NZ market in waiting mode as investors wait for central banks' decisions

(Image: Getty)

Tue, 31 Jan 2023

New Zealand’s domestic market was kept busy today with a smattering of company announcements while investors wait for multiple central banks to announce new monetary decisions.The S&P/NZX 50 index fell 66.5 points, or 0.6%, to 11,967.72. Across the main board, 82 stocks fell and 51 rose. Turnover was $154 million.Craigs Investment Partners’ Peter McIntyre said the NZX 50 had risen 4.9% in January so far – making it the strongest monthly gain NZ’s market had seen since August 2021.Central banks are in the spotlight th...

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

NZ sharemarket falls over 1%

The S&P/NZX 50 Index closed at 156.22 points, or down 1.16%.

Graham Skellern 6:05pm

World

US Fed official backs further rate cut due to weak job market

Fed Governor argued that lowering rates further is a matter of "risk management.

AFP 4:10pm

US Fed official backs further rate cut due to weak job market

Markets

Serko swells in India, GetThere adds $8.8m revenue

CEO says result is strongest ever as shares soar more than 8% in early trading.

Rebecca Stevenson 11:15am

Serko swells in India, GetThere adds $8.8m revenue

Sponsored

Cybersecurity skills gap leaving Kiwi businesses at risk - report

A cybersecurity skills shortage is creating additional cyber risks, according to a new global report.

Fortinet

Sponsored

Spark’s partner strategy sets the bar for innovation

Spark

More Markets

Markets Market Close

NZ sharemarket falls over 1%

The S&P/NZX 50 Index closed at 156.22 points, or down 1.16%.

Graham Skellern 6:05pm

Markets

1,200 Air NZ flight attendants vote to take strike action

About 1,200 Air New Zealand cabin crew have voted to take strike action, the union says.The union said those who voted for strike action worked across international, domestic and regional routes and had been trying for months to get better pay and rosters.Michael Wood, director o...

Staff reporters 5:05pm