NZ sharemarket rises as US debt issues sorted

NZ sharemarket rises as US debt issues sorted
The passage of laws sorting out the US debt ceiling issue perked up local investors. (Image: Getty)
Graham Skellern
A re-energised New Zealand sharemarket staged a strong rebound, driven by the two biggest stocks, as the deal on United States’ debt ceiling was sorted.The House of Representatives passed a bill to suspend the country’s US$31.4 trillion (NZ$52.2t) debt limit, through to January 2025, after the United States markets had closed.Instead, the Asia- Pacific markets surged. After strong afternoon trading, the S&P/NZX 50 Index closed at 11,916.13, up 103.12 points or 0.87%.There were 46 gainers and 79 decliners on the main board with 3...

More Markets

Fisher & Paykel ups pre-Christmas dividend
Markets

Fisher & Paykel ups pre-Christmas dividend

And employees will get a share of $4 million.

ERoad half-year earnings reflect straighter steering
Markets

ERoad half-year earnings reflect straighter steering

Cash burn under control, strong potential in North America.

Ben Moore 11:10am
Ryman Healthcare cites ‘challenging’ housing market in 4pc net profit drop
Markets

Ryman Healthcare cites ‘challenging’ housing market in 4pc net profit drop

New Zealand’s largest listed retirement company cited the “challenging” housing market in declaring net profit down 4% and downgrading its profit outlook.Ryman Healthcare’s reported net profit after tax fell 4% from $193 million a year ago to $186.7m for the six months to Sept 30...

TradeWindow slashes staff and cash burn
Markets

TradeWindow slashes staff and cash burn

Monthly cash burn of $1m last year should fall to $200,000 by the end of this year.