NZ shares shake off inflation scare

NZ shares shake off inflation scare
Inflation reaches a 30-year high. (Image: Getty)
Dan Brunskill
New Zealand's benchmark share index moved higher on Monday, despite inflation data showing prices had risen more in the June quarter than many had expected.  The S&P/NZX 50 Index rose 41 points, or 0.4%, to 11,163.63. Turnover was extremely light at just $56 million.Annual inflation hit a 32 year high in the June quarter – at 7.3%, compared to expectations of 7% – but you might not know it just from looking at financial markets.The NZ dollar climbed immediately after the announcement, on the expectation that it may...

More Markets

NZ stocks end firmly as outlook brightens
Markets Market Close

NZ stocks end firmly as outlook brightens

Improved, post-results season sentiment drove NZ stocks higher.

The Warehouse Albany and Silverdale could be first in line for store revamp
Retail

The Warehouse Albany and Silverdale could be first in line for store revamp

The Warehouse’s Albany and Silverdale stores could be first in line to undergo an interior revamp, according to chief executive Mark Stirton, who gave an update to shareholders at the company’s annual meeting on Friday.The meeting covered everything from the company’s 2025 financ...

Westpac cops $3.64m penalty for lender responsibility breaches
Finance

Westpac cops $3.64m penalty for lender responsibility breaches

Credit Contracts and Consumer Finance Act in focus again.

New Talisman in trading halt
Markets

New Talisman in trading halt

New Talisman Gold Mines has been placed in a trading halt because of its financial position.The mining company requested the halt, saying the board must meet “to consider the company’s current financial position and its strategic path forward”.“The board cannot reach a conclusion...