NZX50 sinks to lowest point for 2023

NZX50 sinks to lowest point for 2023
Rising interest rates drag equities down. (Image: Getty)
Staff reporters
New Zealand stocks buckled under the weight of rising bond yields, taking the market to its lowest point for the year to date.By the close, the S&P/NZX50 index was at 10,994.08, down 141.505 points or 1.27%.Turnover was $115.1 million, with 94 falls and 33 rises among the 185 stocks traded on the main board.The index is now 2,564 points, or 19%, down from its record close, set on Jan 8, 2020, of 13,558.19.Comments from US Federal Reserve Chairman Jerome Powell to the effect that persistently high US inflation and tight labour markets could...

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