NZX rebounds after rough start to day on bank fears

NZX rebounds after rough start to day on bank fears
Fears over Credit Suisse had investors on edge. (Image: Getty)
Graham Skellern
The New Zealand sharemarket’s nerves were soothed by a bumper profit from Fonterra and a new $1.6 billion takeover bid for Pushpay following another offshore banking scare and looming recession at home.The S&P/NZX 50 Index fell sharply at the opening on concerns about the outlook for Switzerland’s second-largest bank Credit Suisse, with its share price falling 24%.But following the Fonterra and Pushpay news the index found a spring in its step, rebounding impressively from a midday low of 11,529.95 and closing with a gain of 81....

More Markets

NZ sharemarket braces for Trump's 'Liberation Day'
Markets Market Close

NZ sharemarket braces for Trump's 'Liberation Day'

The S&P/NZX 50 Index closed at 12,320.19, up 7.59 points or 0.062%.

Graham Skellern 02 Apr 2025
Westpac Bank’s Eckhold says April cut likely wrong move
Economy

Westpac Bank’s Eckhold says April cut likely wrong move

Economists are widely expecting a 25 bps rate cut next week. 

Rebecca Howard 02 Apr 2025
Trump-era FX 'compounding' margin losses, analysts say
Retail

Trump-era FX 'compounding' margin losses, analysts say

"Liberation day" could make matters worse, says Kiwibank’s Kerr.

Gregor Thompson 02 Apr 2025