NZ sharemarket down 0.6% on Spark's disappointing update

Shares worth $108.64m changed hands. (Image: NZME)

Wed, 30 Oct 2024

The New Zealand sharemarket posted a fall of more than 0.5% as leading telecommunications company Spark reduced its earnings and dividend guidance.The S&P/NZX 50 Index closed at 12,694.84, down 88.52 points or 0.69%, with 29.46 million shares worth $108.64m changing hands.Spark actually gained 4c to $3 after cutting its operating earnings (ebitdai) guidance by 4% to $1.12 billion-$1.18b, from $1.165b-$1.22b, for the 2025 financial year. The dividend guidance is now 25c a share, from 27.5c, and capital expenditure has been reduced to $4...

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