MARKET CLOSE: NZ shares fall from record; Z Energy drops on placement

MARKET CLOSE: NZ shares fall from record; Z Energy drops on placement
Paul McBeth
By Paul McBeth May 3 (BusinessDesk) - New Zealand shares fell from a record as investors took advantage of the recent gains. Z Energy dropped on an unusually large volume of trading.  The S&P/NZX 50 Index declined 27.67 points, or 0.3 percent, to 10,058. Within the index, 29 stocks fell, 16 rose, and five were unchanged. Turnover was $279.4 million, of which Z Energy accounted for $203.7 million.  The benchmark index was at a record yesterday and has been one of the more expensive across Asia-Pacific. Port of Tauranga, which is trading...

More Markets

NZ sharemarket falls 1%
Markets Market close

NZ sharemarket falls 1%

The S&P/NZX 50 Index closed at 11,804.84, down 111.94 points or 0.94%.

Graham Skellern 16 Apr 2024
Fletcher subsidiary Easysteel looks to cut jobs
Markets

Fletcher subsidiary Easysteel looks to cut jobs

Workers left 'stunned' by company's restructuring proposal, First Union says.

Gregor Thompson 16 Apr 2024
Scott Tech revenue up but profit down
Markets

Scott Tech revenue up but profit down

Scott Technology’s profit fell 42% on one-off costs in the half year to Feb 29 2024, but revenue is up 11% to $141 million on the back of a company refocus.Scott specialises in automated and robotic manufacturing processes. It attributed its revenue growth to its Scott 2027 strat...

Staff reporters 16 Apr 2024
NZX in for a tongue-lashing at AGM
Markets

NZX in for a tongue-lashing at AGM

A proposed 38% increase in the pool for directors' fees is not universally applauded.

Pattrick Smellie 16 Apr 2024