NZ market edges down as employment confidence hits low point

The SP/NZX 50 Index edged down 26.01 points, or 0.2%, to 11,316.81. (Image: Getty)

Wed, 27 Sep 2023

New Zealand's benchmark share index slid into the red as local employment confidence hit its lowest point since December 2020.The SP/NZX 50 Index edged down 26.01 points, or 0.2%, to 11,316.81. Turnover was $101.3 million, and there were 35 gainers and 90 decliners on the main board. Devon Funds head of retail Greg Smith said it was quieter “in the skies and on the market boards” during the school holidays.In September 2023, employment confidence in NZ hit its lowest point since December 2020, with more people exp...

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.

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 }}

Retail

New World supermarket first retailer to buy at Drury

Property developer also welcomes 20% asset deduction Budget sweetener.

Maria Slade 3:10pm

Economy

Not everyone thinks the RBNZ should cut this week

Three out of five members of NZIER's Shadow Board recommend a hold.

Rebecca Howard 2:00pm

Not everyone thinks the RBNZ should cut this week

The Quiz Free

QuiznessDesk, Monday, May 26

Can you beat the Quizmaster?

The Quizmaster 9:15am

Sponsored

Tired of missing out on getting to global summits to help grow your business?

Airwallex is offering a grant for NZ businesses to join the action.

Airwallex

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

More Markets

Markets

Turners Automotive reports record net profit

Turners Automotive reported another record profit for the March year, despite challenging New Zealand economic conditions.The company’s net profit came to $38.6m, up 17%.”The resilience of this result demonstrates a diversified platform to navigate extremely challenging economic...

Staff reporters 11:20am