Skellerup rallies on robust earnings as NZ market revels on lower rates

Skellerup rallies on robust earnings as NZ market revels on lower rates
94 stocks gained, 46 fell, and 39 were unchanged. (Image: Getty)
Paul McBeth
New Zealand shares extended their gains as investors continued to enjoy the prospect of lower interest rates reviving a moribund economy, with Skellerup rallying on solid earnings in a tough environment. The S&P/NZX 50 Index rose 138.04 points, or 1.1%, to 12,710.57. Across the main board, 94 stocks gained, 46 fell, and 39 were unchanged. Turnover was $122.4 million, with 11 companies trading on volumes of more than a million. Investors remained upbeat after yesterday’s earlier-than-expected rate cut by the Reserve Bank of N...

More Markets

One NZ is gearing up to launch a dedicated fibre business
Markets

One NZ is gearing up to launch a dedicated fibre business

One New Zealand is gearing up to launch a dedicated fibre business to support wholesale customers.Announced on Thursday by One NZ, EonFibre is expected to roll out later this year. The new service will use One NZ’s 11,000-kilometre fibre network to sell “high-performing yet simpl...

The ASX's top stock in 2023 is rooted in NZ
Markets

The ASX's top stock in 2023 is rooted in NZ

From NZ research to a trailblazing startup, it is now a story of success.

NZX 50 surges as RBNZ takes handbrake off economy
Markets Market close

NZX 50 surges as RBNZ takes handbrake off economy

The S&P/NZX 50 Index jumped 253.47 points, or 2.1%, to 12,572.53.

Paul McBeth 14 Aug 2024
Greenfern resumes trading after debt query
Markets

Greenfern resumes trading after debt query

Greenfern Industries’ shares resumed trading on the New Zealand Exchange on Wednesday afternoon after a trading halt over a debt issue.The company was halted after NZ RegCo engaged with it regarding a $515,900 loan from Crown Financial Services.The loan was due for repayment in A...

Ian Llewellyn 14 Aug 2024