NZ sharemarket down amid Bremworth coup, NZME stake

NZ sharemarket down amid Bremworth coup, NZME stake
Trading was solid, with 48.19 million shares worth $178.52m changing hands. (Image: Getty)
Graham Skellern
Well-established carpet maker Bremworth is at the centre of an attempted board coup and The Warehouse continues to struggle as a cautious New Zealand sharemarket posted a near 0.5% fall. The S&P/NZX 50 Index was weak throughout the day and closed at 12,550.05, down 51.37 points or 0.41%. The index has fallen 4.3% for the year to date.Trading was solid, with 48.19 million shares worth $178.52m changing hands.'Threat of looming new US tariffs'Mark Lister, investment director with Craigs Investment Partners, said the local market...

More Markets

Bremworth coup: group of shareholders wants board sacked
Primary Sector

Bremworth coup: group of shareholders wants board sacked

The group, led by Rob Hewett, believes it has support from 35% of shareholders.

Riley Kennedy 03 Mar 2025
Canadian James Grenon takes substantial NZME stake
Markets

Canadian James Grenon takes substantial NZME stake

An Auckland-based Canadian billionaire previously linked to an alternative news venture has taken a substantial share holding in NZME, the owner of the NZ Herald, Newstalk ZB and BusinessDesk.In a release to the New Zealand Exchange (NZX) on Monday, Canadian private equity tycoon...

Shayne Currie 03 Mar 2025
Warehouse forecasts another second-half earnings loss
Retail

Warehouse forecasts another second-half earnings loss

Interim CEO John Journee says the company is likely at the bottom of the retail cycle.

Gregor Thompson 03 Mar 2025
Canadian private equity tycoon James Grenon takes NZME stake
Markets

Canadian private equity tycoon James Grenon takes NZME stake

Canadian private equity tycoon James Grenon has taken a 9.321% stake in NZME for “investment purposes”.Grenon, founder and adviser of Calgary-based Tom Capital Management, paid just over $9 million for the stake, which also included buying $786,399 of shares from Karori Capital L...

Staff reporters 03 Mar 2025