NZ sharemarket up nearly 1% amid ongoing takeover drama

(Image: NZME)

Tue, 23 Jul 2024

A half-billion-dollar takeover bid for retailing icon The Warehouse sparked further life into the New Zealand sharemarket, posting a strong gain of nearly 1%. The S&P/NZX 50 Index climbed at lunchtime and closed on 12,425.58, up 115.67 points or 0.94%. The index last reached those levels in early February 2022.There were 96 gainers and 33 decliners over the whole market on heavy volumes of 115.19 million share transactions worth $239.9m.Retirement village operator Arvida Group, unchanged at $1.61, again dominated the trading on 71.78m...

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