MARKET CLOSE: NZ shares fall for second day as investors grow wary

MARKET CLOSE: NZ shares fall for second day as investors grow wary
Dan Brunskill
New Zealand shares fell for a second day as investors await earnings next week to gain a better sense of the economic outlook. The S&P/NZX 50 Index fell 56.51 points, or 0.52 percent, to 10,731.55. Within the index, 16 stocks rose, 25 fell and nine were unchanged. Turnover was $126.1 million. The benchmark opened stronger building on momentum from Wall Street’s overnight gains but fell away around midday when the Australian market weakened.     The S&P 500 and Dow Jones indices both closed more than 1.5 percent higher. At 5:30pm in Wel...

More Markets

Tourism Holdings stalls as NZ sharemarket ends week on high
Markets Market Close

Tourism Holdings stalls as NZ sharemarket ends week on high

The NZ sharemarket bounced back as large-cap stocks balanced gains and losses.

Forsyth Barr shifts Turners Automotive to neutral
Markets

Forsyth Barr shifts Turners Automotive to neutral

The company has delivered five consecutive years of record earnings.

Vital board backs Tait takeover
Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Listed property firms welcome ‘Investment Boost'
Property

Listed property firms welcome ‘Investment Boost'

The tax policy could translate into millions in extra cash.