MARKET CLOSE: NZ shares fall as yield stocks face selling

MARKET CLOSE: NZ shares fall as yield stocks face selling
Paul McBeth
New Zealand shares fell, with a number of utilities and property stocks held of their reliable dividends leading the market lower. Power companies were generally flat on large volumes after yesterday's savaging.  The S&P/NZX 50 Index decreased 22.27 points, or 0.2 percent, to 10,831.52. Within the index, 22 stocks fell, 17 rose, and 11 were unchanged. Turnover was $143.9 million of which the big four electricity suppliers accounted for $65.8 million.  Chorus led the market lower, down 2.4 percent at $5.32 on a volume of 248,000 shares, le...

More Markets

Fletcher director Rob McDonald speeds up exit
Markets

Fletcher director Rob McDonald speeds up exit

Contact Energy chair and Vector chair will go out as they came in: together.

The Warehouse forecasts ebit to fall 64% in FY24
Retail

The Warehouse forecasts ebit to fall 64% in FY24

 Annual sales from continuing operations are expected to fall 6-7% on the year.

Mercury launches capital bond offer
Markets

Mercury launches capital bond offer

Mercury NZ is offering up to $300 million. 

Jetstar muscles into Air New Zealand services to Queensland
Markets

Jetstar muscles into Air New Zealand services to Queensland

Jetstar is launching two new trans-Tasman routes and basing another aircraft in this country to boost and “significantly” expand its New Zealand operations in moves that will help bring down fares.It will fly directly against rival Air NZ with new flights between Auckland and the...