MARKET CLOSE: NZ shares join Asian rout as pandemic rattles investors

MARKET CLOSE: NZ shares join Asian rout as pandemic rattles investors
Dan Brunskill
New Zealand shares fell, with several companies hitting record lows, as investors grappled with the uncertainty of how long and deep the economic downturn will be as the pandemic continues to rattle financial markets.  The S&P/NZX Index dropped 340.36 points, or 3.6 percent, to 9,114.5. Within the index, 45 stocks fell, three rose and two were unchanged. Turnover was $275.2 million. Markets remain in upheaval as the covid-19 outbreak worsens. Investors today returned to sell-mode as concerns set in that the stimulus package would not be e...

More Markets

NZX 50 ends the week down 1.5% in flurry of index reweighting
Markets Market close

NZX 50 ends the week down 1.5% in flurry of index reweighting

The S&P/NZX 50 index dropped 89.42 points, or 0.8%, to 11,682.39.

Paul McBeth 21 Jun 2024
KMD Brands guidance undershoots analysts' forecasts
Retail

KMD Brands guidance undershoots analysts' forecasts

Group sales between February and May have fallen 8.4% year-on-year.

Analysts downgrade Channel Infrastructure
Infrastructure

Analysts downgrade Channel Infrastructure

The move follows BP's selling its stake.

Ian Llewellyn 21 Jun 2024
NZ shares rally as economy edges out of recession
Markets Market close

NZ shares rally as economy edges out of recession

The S&P/NZX 50 index rose 100.62 points, or 0.9%, to 11,771.81.

Paul McBeth 20 Jun 2024