MARKET CLOSE: NZ shares fall as Sky TV, Steel & Tube warn on earnings

MARKET CLOSE: NZ shares fall as Sky TV, Steel & Tube warn on earnings
Paul McBeth
New Zealand shares fell as investor confidence was dented by profit warnings from Sky Network Television and Steel & Tube Holdings.  The S&P/NZX 50 Index declined 21.54 points, or 0.2 percent, to 10,873.16. Within the index, 23 stocks fell, 21 rose, and six were unchanged. Turnover was $90.1 million.  Sky TV led the market lower, sliding 6.3 percent to 89 cents on a volume of 782,000 shares, less than its 90-day average of one million. The pay-TV operator forecast earnings and revenue to fall in the 2020 financial year due to accounting r...

More Markets

NZ sharemarket starts week up 0.6%
Markets Market Close

NZ sharemarket starts week up 0.6%

The S&P/NZX 50 Index closed at 13,449.85, up 80.45 points or 0.6%.

Graham Skellern 24 Nov 2025
Kiwi Property Group's interim profit lower as write-downs bite
Economy

Kiwi Property Group's interim profit lower as write-downs bite

The property company reiterates its full-year dividend views.

Andy Macdonald 24 Nov 2025
Gentrack in the hunt for 10 new customers
Markets

Gentrack in the hunt for 10 new customers

Shares climb more than 14% on hopes of at least three or four new customers.  

Another solar farm gets the nod from Genesis
Markets

Another solar farm gets the nod from Genesis

Genesis Energy has approved the construction of the Edgecumbe Solar Farm in the Bay of Plenty, marking its second major solar commitment in as many months.The company made a final investment decision (FID) on the 136 megawatt peak (MWp) farm, clearing the way for work to begin sh...

Ian Llewellyn 24 Nov 2025