MARKET CLOSE: NZ shares rise; Tourism Holdings rallies on joint venture exit

MARKET CLOSE: NZ shares rise; Tourism Holdings rallies on joint venture exit
Dan Brunskill
New Zealand shares rose, led by Tourism Holdings as investors welcomed news the rental RV operator would shore up its balance sheet by selling down its stake in a joint venture project rather than raising money at a steep discount.The S&P/NZX 50 Index advanced 64.62 points, or 0.7 percent, to 9,935.18. Within the index, 29 stocks rose, 18 fell, and three were unchanged. Turnover was $198.4 million. Tourism Holdings led the market higher, rising 7.5 percent to $1 after it said it reached an agreement with Thor Industries to exit their T...

More Markets

NZ sharemarket up 0.4% after a2 Milk surge
Markets Market Close

NZ sharemarket up 0.4% after a2 Milk surge

The S&P/NZX 50 Index closed at 12,266.25, gaining 57.2 points or 0.47%.

Graham Skellern 14 Mar 2025
Goldman Sachs downgrades Fletcher Building to sell
Markets

Goldman Sachs downgrades Fletcher Building to sell

Goldman Sach analysts have a 12-month target price of A$2.85 ($3.14).

Rebecca Howard 14 Mar 2025
Rayonier exits NZ with $1.2b forestry sale
Primary Sector

Rayonier exits NZ with $1.2b forestry sale

An investment firm bought the stake, which included 116,145 hectares of forestry.

John Anthony 14 Mar 2025
NZME board told 'compromise or be rolled'
Markets

NZME board told 'compromise or be rolled'

Minority shareholders are falling in behind billionaire Jim Grenon's board coup.