Musk’s Twitter buy boosts local tech stocks; Air NZ takes off

Musk’s Twitter buy boosts local tech stocks; Air NZ takes off
Elon Musk’s Twitter buy even made waves on the NZ stockmarket. (Image: Getty)
Staff reporters
New Zealand's sharemarket rose as eccentric billionaire Elon Musk’s Twitter buy boosted demand for local tech stocks, while Air NZ’s tradeable rights took off.The S&P/NZX 50 Index rose 68.2 points, or 0.6%, 12,121.39. Turnover was moderate, with $124.6 million traded across the main board.Air NZ continued to dominate the headlines as investors struggled to get to grips with the $1.2 billion capital raising, prompting the stock market operator’s NZ RegCo arm to send out a note explaining the nature of the tradeable righ...

More Markets

NZ sharemarket rises with gentailers leading
Markets Market close

NZ sharemarket rises with gentailers leading

Electricity gentailers pumped energy into the NZX.

Tom Raynel 09 May 2025
Steven Joyce to chair NZME
Markets

Steven Joyce to chair NZME

Tech expert Bowen Pan will also join, later on. 

Staff reporters 09 May 2025
NZME set to take on Trade Me for car sales
Markets

NZME set to take on Trade Me for car sales

Publicly listed NZME, owner of the NZ Herald and BusinessDesk, says it is exploring a new automotive digital classifieds platform, in a clear bid to take on Trade Me.Seeking to emulate the success of its property platform OneRoof, NZME said on Friday it had signed a memorandum of...

Staff reporters 09 May 2025
Bremworth getting back into synthetics
Primary Sector

Bremworth getting back into synthetics

Albeit in a small, but carefully curated, number of products.

Riley Kennedy 09 May 2025