NZ shares steady despite Air NZ's descent

NZ shares steady despite Air NZ's descent
Dan Brunskill
New Zealand's sharemarket was flat on Thursday, even though Air NZ fell to a two-year low after announcing its deeply discounted capital raise. The S&P/NZX 50 Index rose 11 points, or 0.1%, to 12,110.26. Turnover was high at $277.2 million.A huge chunk of this volume was traded through Air NZ with investors swapping almost 11m shares at a value of just under $14m.Shares in the airline fell 6.2% to $1.29, which is a significant drop but small relative to the 35% discount – at 53 cents ­– offered in the $1.2 billion c...

More Markets

NZ sharemarket closes the week flat
Markets Market close

NZ sharemarket closes the week flat

The S&P/NZX50 Index recovered admirably from its intraday low.

Graham Skellern 08 Dec 2023
SkyCity downgrades guidance
Markets

SkyCity downgrades guidance

Casino operator downgrades guidance as cost of living pressures continue.

John Anthony 08 Dec 2023
Why Malcolm Johns chose Genesis for his next job
Markets

Why Malcolm Johns chose Genesis for his next job

Energy CEO says the first steps towards change are the hardest.

Staff reporters 08 Dec 2023
Fonterra fattens margins when its farmers are getting squeezed
Finance

Fonterra fattens margins when its farmers are getting squeezed

The co-op released its quarter one results on Thursday.

Riley Kennedy 08 Dec 2023