Pipe uncertainty to weigh on Fletcher when trading resumes

Pipe uncertainty to weigh on Fletcher when trading resumes
The stock was trading at $4.90 before it went into a halt on Wednesday. (Image: BGC)
Victoria Young
Analysts expect uncertainty to weigh on Fletcher Building when it resumes trading with litigation expected over its Iplex pipe division. The stock was trading at $4.90 before it went into a halt on Wednesday for 48 hours. Its order book at 6pm Thursday showed offers to sell at as low as $4.30.Fletcher went into a halt after BusinessDesk asked questions relating to Perth builder BGC’s independent expert findings on the issue. BGC claims it will cost Fletcher A$1.8 billion (NZ$ 1.9b), but the provision is just A$15m. “T...

More Markets

NZ sharemarket rises with gentailers leading
Markets Market close

NZ sharemarket rises with gentailers leading

Electricity gentailers pumped energy into the NZX.

Tom Raynel 09 May 2025
Steven Joyce to chair NZME
Markets

Steven Joyce to chair NZME

Tech expert Bowen Pan will also join, later on. 

Staff reporters 09 May 2025
NZME set to take on Trade Me for car sales
Markets

NZME set to take on Trade Me for car sales

Publicly listed NZME, owner of the NZ Herald and BusinessDesk, says it is exploring a new automotive digital classifieds platform, in a clear bid to take on Trade Me.Seeking to emulate the success of its property platform OneRoof, NZME said on Friday it had signed a memorandum of...

Staff reporters 09 May 2025
Bremworth getting back into synthetics
Primary Sector

Bremworth getting back into synthetics

Albeit in a small, but carefully curated, number of products.

Riley Kennedy 09 May 2025