MARKET CLOSE: NZX50 hits record; buoyed by business confidence, M&A

MARKET CLOSE: NZX50 hits record; buoyed by business confidence, M&A
Paul McBeth
The S&P/NZX 50 Index hit a record as investor sentiment was buoyed by a recovery in the latest business confidence survey and a better than expected earnings season, and a growing appetite among private equity buyers to pursue mergers and acquisitions.  The benchmark index rose a high as 11,273.22, and ended the session at 11,207.29, up 86.48 points, or 0.8 percent. Within the index, 31 stocks rose, nine fell and 10 were unchanged. Turnover was $108.4 million.  Firms' expectations for both the general economy and their own trading improve...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024