NZ sharemarket falls 1.5% as investors look to get cash for Auckland airport shares

NZ sharemarket falls 1.5% as investors look to get cash for Auckland airport shares
There were 33.67 million share transactions worth $134.75m. (Image: Getty)
Graham Skellern
The New Zealand sharemarket slumped to one of its biggest single-day falls this year as investors rushed to free up funds and participate in Auckland International Airport’s $1.3 billion sale of stock. The S&P/NZX 50 Index slid gradually all day – the trading line looked like a downhill ski run – and closed at 12,896.67, falling 196.51 points or 1.5%. The index previously fell 1.55% on Oct 16 and 1.47% on Sept 20.Many blue-chip stocks tumbled as trading reached 33.67 million share transactions worth $134.75m.'...

More Markets

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Rebecca Howard 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 05 Feb 2025
Forsyth Barr on Spark's 'incumbent's dilemma'
Finance

Forsyth Barr on Spark's 'incumbent's dilemma'

Falling market share and margins in the broadband market look entrenched.

Pattrick Smellie 05 Feb 2025