NZ market in the red as election countdown begins

The S&P/NZX 50 Index fell 82 points, or 0.7%, to 11,205.06. (Image: Depositphotos)

Mon, 09 Oct 2023

New Zealand’s benchmark index slid as investors started the countdown to the election later this week and waited for key US inflation data due this Friday.The S&P/NZX 50 Index fell 82 points, or 0.7%, to 11,205.06. Turnover was $74.9 million. There were 67 gainers and 59 decliners on the main board.Peter McIntyre, an investment adviser at Craigs Investment Partners, said the NZ market had a slow day with light volumes as investors were very much in anticipation mode from the looming election.Gentailers had dragged the market lower on...

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 }}

Markets Market Close

NZX rallies past 13,000 points after RBNZ rate cut

The NZ sharemarket was up after results from Fletcher Building and Spark.

Tom Raynel 6:26pm

Economy

Updated: RBNZ turns more dovish

The latest forecast imply two more rate cuts to come.

Rebecca Howard 3:05pm

Economy

RBNZ cuts to 3%, sees cash rate reaching 2.5%

RBNZ cuts by 25bps but thought about 50bps.

Rebecca Howard 2:17pm

RBNZ cuts to 3%, sees cash rate reaching 2.5%

Sponsored

The smarter way to invest in infrastructure

The global infrastructure ETF listed right here on NZX.

Blackrock, Smart Invest

Sponsored

How three bold campaigns turned creative risk into ROI

“Brand and performance aren’t opposites – they’re teammates. When they work together, you get compound growth.”

YoungShand

More Markets

Markets Market Close

NZX rallies past 13,000 points after RBNZ rate cut

The NZ sharemarket was up after results from Fletcher Building and Spark.

Tom Raynel 6:26pm

Markets

Major SkyCity investor ready to vote against directors

Allan Gray says an equity raise now would show the board to be poor stewards of capital.

Dileepa Fonseka 2:15pm

Markets

Spark resets future dividend ratios, unveils new strategy

Spark promises a return to basics and 'annuity-like' returns.

Pattrick Smellie 1:00pm

Markets

‘One of the most challenging periods in Spark’s history’

Spark has reported another big fall in profit, with reported net profit down 17.7% to $260 million, or a 33.6% fall to $227m, adjusting for asset sales and other one-offs.“The past year has been one of the most challenging periods in Spark’s history, as we navigated economic head...

Staff reporters 10:15am

NZ market in the red as election countdown begins

More Markets

Your company has a subscription

Team