Markets market close

NZ shares rise as Fed rate hike misses the mark

Ella Somers
Thu, 05 May 2022

Trainee reporter
funded through
NZ shares rise as Fed rate hike misses the mark
Air New Zealand was down 6.3% in the biggest decline on the NZX50. (Image: Unsplash)
Ella Somers
Thu, 05 May 2022
It was a busy day for New Zealand’s stock market as stocks rallied after the US Federal Reserve’s rate hike.The S&P/NZX 50 index rose 72.3 points, or 0.6%, to 11,747.57. Within the broader equity market, 89 stocks rose, 43 fell and turnover was $105 million.Inflation is on everyone’s minds as the pandemic rages on, Russia’s military invasion of Ukraine has detrimental geopolitical effects and the cost of almost everything is rapidly rising.The Fed’s decision to hike the federal funds rate by 50 basis points &nd...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
Meridian leads NZ stocks higher
Dan Brunskill | Wed, 18 May 2022

Meridian Energy led the market higher, jumping 4.7% to $4.65, after sharing a positive operating report for April.

Primary Sector
Another class action against A2, this time in Auckland
Rebecca Howard | Wed, 18 May 2022

The opt-in class action has been filed in the Auckland High Court and already includes one financial institution. 

Infrastructure
Argosy's property income slips as portfolio's value rises
Jenny Ruth | Wed, 18 May 2022

Argosy will pay out more in dividends than adjusted funds from operations, as foreshadowed a year ago.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.