MARKET CLOSE: NZ shares fall; virus fears heighten volatility

MARKET CLOSE: NZ shares fall; virus fears heighten volatility
Dan Brunskill
New Zealand's benchmark stock index reversed yesterday’s gains, falling almost 2 percent as coronavirus fears fuelled market volatility.   The S&P/NZX 50 Index declined 214.99 points, or 1.8 percent, to 11,425.90. Within the index, 37 stocks fell, 11 rose, and two were unchanged. Turnover was $174.4 million. Today’s drop followed a lead from Wall Street, which saw all the US benchmark indices fall more than 3 percent overnight. Asian equity markets also fell, with most down more than 1 percent. The Hang Seng was down 2.2 percent in late A...

More Markets

Smart CEO Anna Scott resigns
Markets

Smart CEO Anna Scott resigns

Anna Scott will take up her new role on October 1.

Fonterra’s NZ milk collections hit five-year high
Primary Sector

Fonterra’s NZ milk collections hit five-year high

The increased production comes as forecast milk prices point to record levels.

Retailers say unseasonable weather compounded woes
Retail

Retailers say unseasonable weather compounded woes

The Warehouse Group and KMD Brands have both downgraded guidance in recent weeks.