MARKET CLOSE: Tourism stocks plunge as border effectively closed

MARKET CLOSE: Tourism stocks plunge as border effectively closed
Dan Brunskill
New Zealand shares fell as investors reacted to new requirements that all travellers entering the country self-isolate for 14 days.The S&P/NZX fell 349.92 points, or 3.6 percent, to 9,476.94. Within the index, 41 stocks fell, two were unchanged and seven fell. Turnover was $223.5 million.Prime Minister Jacinda Ardern announced the travel restriction on Saturday, describing it as the strictest in the world, as the government tries to flatten the rate of covid-19 outbreak.This morning the Reserve Bank slashed the official cash rate by 75 basi...

More Markets

Rolling out the carpet for the battle of Bremworth
Primary Sector

Rolling out the carpet for the battle of Bremworth

Shareholders Association wants both sides to work it out.

NZ sharemarket down amid Bremworth coup, NZME stake
Markets Market Close

NZ sharemarket down amid Bremworth coup, NZME stake

The S&P/NZX 50 Index closed at 12,550.05, down 51.37 points or 0.41%.

Graham Skellern 03 Mar 2025
Bremworth coup: group of shareholders wants board sacked
Primary Sector

Bremworth coup: group of shareholders wants board sacked

The group, led by Rob Hewett, believes it has support from 35% of shareholders.

Riley Kennedy 03 Mar 2025
Canadian James Grenon takes substantial NZME stake
Markets

Canadian James Grenon takes substantial NZME stake

An Auckland-based Canadian billionaire previously linked to an alternative news venture has taken a substantial share holding in NZME, the owner of the NZ Herald, Newstalk ZB and BusinessDesk.In a release to the New Zealand Exchange (NZX) on Monday, Canadian private equity tycoon...

Shayne Currie 03 Mar 2025