MARKET CLOSE: NZ stocks rise on interest rate outlook; dairy shares gain

MARKET CLOSE: NZ stocks rise on interest rate outlook; dairy shares gain
Gavin Evans
By Gavin Evans July 11 (BusinessDesk) -  New Zealand stocks rose, joining a rally across Asia, as renewed prospects for deeper rate cuts in the US made equity investments more appealing. Dairy stocks also firmed. The S&P/NZX 50 Index increased 37.18 points, or 0.3 percent, to 10,687.32. Within the index, 31 stocks gained, 18 fell, and one was unchanged. Turnover was $164.9 million. Stocks across Asia were firmer today after cautious comments from Federal Reserve chair Jerome Powell overnight renewed expectations for a 50 basis-point ra...

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NZ sharemarket falls over 1%
Markets Market Close

NZ sharemarket falls over 1%

The S&P/NZX 50 Index closed at 156.22 points, or down 1.16%.

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1,200 Air NZ flight attendants vote to take strike action
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1,200 Air NZ flight attendants vote to take strike action

About 1,200 Air New Zealand cabin crew have voted to take strike action, the union says.The union said those who voted for strike action worked across international, domestic and regional routes and had been trying for months to get better pay and rosters.Michael Wood, director o...

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Sanford profit surges 224% as debt falls and aquaculture lifts earnings
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Better cash flow and lower debt helped drive seafood company Sanford’s net profit up by 223.8% to $63.7 million in the September year.Revenue was steady at $584.1m, and Sanford’s earnings before interest and tax came to $102.1m, up 88%.Managing director David Mair said it was an...

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