MARKET CLOSE: NZX50 slumps 3% as investors flee for safe havens

MARKET CLOSE: NZX50 slumps 3% as investors flee for safe havens
Dan Brunskill
The S&P/NZX 50 Index dropped almost 3 percent as investors fled the local stock market for safe havens leaving dividends behind, after oil prices collapsed following the OPEC meeting on Friday. The benchmark index decreased 334.09 points, or 2.9 percent, to 11,091.81. Within the index, 46 stocks fell, two rose, and two were unchanged. Turnover was $241.8 million.Stock markets across Asia were pummelled today as investors reacted to the news that Russia and OPEC had failed to agree to oil production cuts, leading to the oil price to dro...

More Markets

NZX falls as Synlait and Mainfreight take hits
Markets Market Close

NZX falls as Synlait and Mainfreight take hits

Market reacts strongly to news of "challenges" at Synlait's Dunsandel plant.

Tom Raynel 30 Jul 2025
'Slow and disappointing' start to the year for Mainfreight
Markets

'Slow and disappointing' start to the year for Mainfreight

The freight and logistics firm said profits were down across its three main divisions.

Staff reporters 30 Jul 2025
Ryman toils to rebuild shareholder confidence
Property

Ryman toils to rebuild shareholder confidence

"When is the total board going to resign?" asked one shareholder.

Gregor Thompson 30 Jul 2025
Synlait shares slump 11% even as outlook brightens
Primary Sector

Synlait shares slump 11% even as outlook brightens

The market is disappointed about manufacturing challenges. 

Rebecca Howard 30 Jul 2025