Recovery rally on NZX as Ryman bounces back

Recovery rally on NZX as Ryman bounces back
Paul McBeth
New Zealand shares bounced back from yesterday’s sharp selloff with Ryman Healthcare leading the way in afternoon trading as it pulled its earnings guidance and said construction will be suspended through the national lockdown. The S&P/NZX50 Index rose 408.03 points, or 4.8 percent, to 8,906.73 by 2:15pm in Wellington, unwinding some of yesterday’s 7.6 percent slump when Prime Minister Jacinda Ardern announced a national lockdown from midnight tomorrow. The kiwi dollar was also stronger, at 57.73 US cents by 2:45pm from 56.38 at 5pm yesterda...

More Markets

Lower bond yields lift NZ sharemarket
Markets Market Close

Lower bond yields lift NZ sharemarket

Lower bond yields have helped drive the NZ sharemarket sharply higher at the close.

Jamie Gray 30 May 2025
Turbulent market slashes 2 Cheap Cars' profit
Markets

Turbulent market slashes 2 Cheap Cars' profit

New Zealand’s continued economic downturn, a sharp fall in immigration and consequent softer market demand has driven a 47% drop in profit for 2 Cheap Cars.The company reported total revenue of $81.9 million with 7675 cars sold in the year to March 31, down 6% compared to $86.7m...

Staff reporters 30 May 2025
Pacific Edge launches $20m capital raise
Markets

Pacific Edge launches $20m capital raise

The raise will help the medtech company continue operations for another year.

Staff reporters 30 May 2025
King Salmon slashes earnings guidance
Primary Sector

King Salmon slashes earnings guidance

Reduced harvests are needed to build up fish stocks.

Staff reporters 30 May 2025