NZ shares fall as earnings disappoint

In-vehicle technology company Eroad led the decline for the NZX. (Image: Eroad)

Thu, 26 May 2022

New Zealand's benchmark share index declined on Thursday as earnings reports from Eroad, Rakon, and Pacific Edge failed to impress investors.The S&P/NZX 50 Index fell 70 points, or 0.6%, to 11,102.84. Turnover was $153 million.Eroad led the decline, tumbling 8.7% to $2.72 as it gave back half of its pre-result rally.The stock has almost halved in value this year, driven lower by higher interest rates and the unexpected resignation of its chief executive in April. Jarden analysts said then that the “immediate timing and natur...

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