MARKET OPEN: Wall Street volatility to dictate direction

MARKET OPEN: Wall Street volatility to dictate direction
Rebecca Howard
Significant volatility on Wall Street may sideline domestic investors today although Laybuy’s listing across the ditch will garner attention. The buy now, pay later company is due to list at 2pm NZ time, after offering 57 million shares for A$1.41 each. Wall Street took an early tumble overnight Friday but managed to pare some of the losses. The Dow Jones Industrial Average shed 0.6 percent, the Nasdaq ended down 1.3 percent and the S&P 500 lost 0.8 percent. At one point the Nasdaq was down more than 5 percent. “The ‘buy the dip’ menta...

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Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Rebecca Howard 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 05 Feb 2025
Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.

Gregor Thompson 05 Feb 2025