NZ sharemarket survives rocky day up 0.3%

Reporting season is underway. (Image: Getty)

Tue, 11 Feb 2025

Cyclical stock Vulcan Steel kicked off the reporting season on a disappointing note by slashing its half-year dividend on a sharp fall in earnings, while the New Zealand sharemarket posted a small gain.The S&P/NZX 50 Index had a rocky day after reaching a low of 12,860.6 but closed at 12,917.45, up 41.1 points or 0.32%. Volumes were solid, with 27.5 million shares worth $111.63m changing hands.'More mediocre results'Vulcan Steel was still up 30c or 3.95% to $7.90 after reporting a 64.8% slump in net profit to $9.2m and a 12.6%...

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