NZ sharemarket down 0.1% amid takeovers

There were 56.52 million share transactions worth $135.84m. (Image: Getty)

Mon, 22 Jul 2024

Takeovers were the name of the game on the New Zealand sharemarket, with Arvida Group surging more than 50% and The Warehouse Group not that far behind.The S&P/NZX 50 Index fired up late morning on the two takeover approaches and then had a sharp fall in the end-of-day broker matching session to close at 12,309.91, down 15.7 points or 0.13%.There were 55 gainers and 83 decliners over the whole market on volumes of 56.52 million share transactions worth $135.84m.Arvida – the board is unanimously backing a $1.2 billion offer from New Yo...

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