MARKET CLOSE: NZ shares join global sell-off on Trump's trade tweets; Freightways caution weighs

MARKET CLOSE: NZ shares join global sell-off on Trump's trade tweets; Freightways caution weighs
Paul McBeth
By Paul McBeth Aug. 26 (BusinessDesk) - New Zealand shares joined a worldwide sell-off as US President Donald Trump spooked investors by ratcheting his trade war with China. That weighed on the local reporting season, which saw Freightways punished for its cautious outlook.  The S&P/NZX 50 Index dropped 138.88 points, 1.3 percent, to 10,483.47. Within the index, 43 stocks fell, three rose, and four were unchanged. Turnover was $103 million, with just four stocks trading on volumes of more than a million shares.  Stocks across the Asia...

More Markets

Westpac cops $3.64m penalty for lender responsibility breaches
Finance

Westpac cops $3.64m penalty for lender responsibility breaches

Credit Contracts and Consumer Finance Act in focus again.

New Talisman in trading halt
Markets

New Talisman in trading halt

New Talisman Gold Mines has been placed in a trading halt because of its financial position.The mining company requested the halt, saying the board must meet “to consider the company’s current financial position and its strategic path forward”.“The board cannot reach a conclusion...

Port of Tauranga Stella Passage project referred to fast-track process
Markets

Port of Tauranga Stella Passage project referred to fast-track process

The infrastructure minister has accepted Port of Tauranga’s request to refer the Stella Passage development resource consent application to the fast-track consenting process.The application is the same as the one lodged with the Environmental Protection Authority (EPA) in April t...

Rakon reports 1H net loss of $3 million
Markets

Rakon reports 1H net loss of $3 million

Rakon has reported a net loss of $3 million for the six months to Sept 30, compared with its year-ago $10m loss.Revenue increased 30.2% from the year-ago $41.7m to $54.2m.Underlying earnings before interest, tax, depreciation and amortisation (ebitda) were $3.6m from a year-ago e...