NZ market falls as earnings season kicks off

The S&P/NZX 50 index fell 103.6 points, or 0.9%, to 12,075.18. (Image: Getty)

Mon, 13 Feb 2023

New Zealand’s earnings season kicked off today with Contact Energy first out of the gate and a surprise earnings downgrade from Fletcher Building, which dragged the local index lower.The S&P/NZX 50 index fell 103.6 points, or 0.9%, to 12,075.18. Turnover was $91.4 million.Peter McIntyre from Craig’s IP said building and healthcare stocks had helped drag NZ’s market lower today as shareholders wrapped their heads around gloomy company updates.Fletcher Building fell 5.4% to $5.13 and traded almost $19m by the end of the day....

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