NZ market dips as election looms

News of a Sky takeover offer was a bright note on the market. (Image: Getty)

Fri, 13 Oct 2023

New Zealand share prices slipped again as investors took to the sidelines before the election, with a looming battle between Fletcher Building and Western Australia’s BGC and a possible bid for Sky TV being the main talking points.The S&P/NZX50 closed at 11,265.72, down 26.86 points or 0.24%.Turnover, worth $71.3 million, was again light. There were 66 gains and 57 falls among the 185 stocks traded.While Fletcher remained in a trading halt, the company mounted a stout defence against claims by the Australian building firm that its Ipl...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Energy

Contact secures gas deal with Greymouth

The agreement is for 7 petajoules a year.

Ian Llewellyn 12:30pm

The Quiz Free

QuiznessDesk, Friday, July 4

Take a break and try our quiz.

The Quizmaster 9:15am

Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million.

The Wall Street Journal 9:00am

JPMorgan is revamping Its bank for the superrich

Sponsored

Tough conversations ahead as cost of living drives employee requests for pay rises

Rising living costs put pressure on both workers and employers.

Moneyfit

Sponsored

Why corporate giving matters

Dave Letele and Z provide support where urgent need is overlooked.

Z Energy

More Markets

Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Gregor Thompson 9:45am