NZ sharemarket ends up 0.6% after jobs data

NZ sharemarket ends up 0.6% after jobs data
Manawa Energy shares rose 27.63% today after its merger with Contact Energy was approved. (Image: NZME)
Jamie Gray
New Zealand share prices ended firm on the back of takeover activity and better-than-expected unemployment data.The S&P/NZX50 index ended 75.8 points or 0.6% higher at 12,496.89.There were 79 rises and 58 falls among the 44.2 million shares worth $144.1m traded.Takeover target Manawa gained $1.34 or 27.6% to close at $6.19 after the Commerce Commission approved its merger with Contact Energy, which fell 15c to $8.99.'Not too bad'Unemployment remained unchanged at 5.1% in the March quarter, a touch lower than market expectations.Howe...

More Markets

Lower bond yields lift NZ sharemarket
Markets Market Close

Lower bond yields lift NZ sharemarket

Lower bond yields have helped drive the NZ sharemarket sharply higher at the close.

Jamie Gray 30 May 2025
Turbulent market slashes 2 Cheap Cars' profit
Markets

Turbulent market slashes 2 Cheap Cars' profit

New Zealand’s continued economic downturn, a sharp fall in immigration and consequent softer market demand has driven a 47% drop in profit for 2 Cheap Cars.The company reported total revenue of $81.9 million with 7675 cars sold in the year to March 31, down 6% compared to $86.7m...

Staff reporters 30 May 2025
Pacific Edge launches $20m capital raise
Markets

Pacific Edge launches $20m capital raise

The raise will help the medtech company continue operations for another year.

Staff reporters 30 May 2025
King Salmon slashes earnings guidance
Primary Sector

King Salmon slashes earnings guidance

Reduced harvests are needed to build up fish stocks.

Staff reporters 30 May 2025