MARKET OPEN: Investors eye historic negative oil prices

MARKET OPEN: Investors eye historic negative oil prices
Rebecca Howard
The New Zealand share market may track Wall Street lower after US crude futures prices turned negative for the first time ever, raising question marks about the viability of global energy firms. The move by nations to shut down all activity has created a supply glut with nowhere to put the crude and few buyers are willing to take actual physical delivery. “Traders fear being left holding the baby at expiry with storage issues globally,” said OMF treasury manager Stuart Ive. According to Reuters, May US crude futures settled on the day...

More Markets

NZ sharemarket falls 0.6% after Monday's surge
Markets Market close

NZ sharemarket falls 0.6% after Monday's surge

The S&P/NZX 50 Index closed at 13,113.19, declining 82.89 points or 0.63%.

Graham Skellern 26 Nov 2024
Rocket Lab nabs Biden funding
Markets

Rocket Lab nabs Biden funding

Rocket Lab has hit a milestone by launching two Electron rockets within 24 hours.The New Zealand-American firm also said on Tuesday it had finalised US$23.9 million (NZ$41.3m) in Biden administration “Chips Act” funding.Proposed recipients of funding under the legislation, design...

Staff reporters 26 Nov 2024
Aroa posts $1.5m HY loss, forecasts annual profit
Markets

Aroa posts $1.5m HY loss, forecasts annual profit

Auckland surgical products company is forecasting annual profit of between $2m to $6m.

John Anthony 26 Nov 2024
Pacific Edge posts $14.5m loss
Markets

Pacific Edge posts $14.5m loss

The cancer diagnostics company is awaiting outcomes of several events.

John Anthony 26 Nov 2024