NZX50 drops; THL plunges 30% as borders close

NZX50 drops; THL plunges 30% as borders close
Dan Brunskill
New Zealand shares fell in early trading as the government's decision to effectively close the country's borders saw many travel and tourism companies drop their earnings forecasts as they struggle to work out the impact of the outbreak. That was in spite of the Reserve Bank slashing the official cash rate by 75 basis points to a record low 0.25 percent, and saying its next move will be to embark on a quantitative easing programme by buying government bonds. At 10:30am in Wellington, the S&P/NZX50 was down 1.9 percent, or 185.2 po...

More Markets

Ebos buys Vital Petfoods assets from receiver
Markets

Ebos buys Vital Petfoods assets from receiver

Distressed assets have been snapped up by the pet food maker.

Denise McNabb 18 Apr 2025
Tourism Holdings and inflation updates drive NZX up
Markets Market close

Tourism Holdings and inflation updates drive NZX up

Tourism Holdings could be one of the most directly impacted shares of the US tariffs.

Tom Raynel 17 Apr 2025
Heartland Bank accountant fined over insider trading
Markets

Heartland Bank accountant fined over insider trading

A former Heartland Bank accountant has been sentenced to six months’ home detention and ordered to pay a fine after pleading guilty on three charges relating to insider trading.Kevin Young, a former treasury accountant with Heartland Bank, purchased Heartland Group Holdings Limit...

Staff reporters 17 Apr 2025
Potential Mainland buyers may soon tap regulators
Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025