SkyCity drags NZ sharemarket down

SkyCity shares went up in smoke. (Image: NZME)

Thu, 06 Jun 2024

SkyCity Entertainment plunged to a 24-year low on its second earnings downgrade within six months but the New Zealand sharemarket remained reasonably resilient with a slight fall.The S&P/NZX 50 Index was down early to 11,872.1 following SkyCity’s struggles but recovered to close at 11,973.01, down 23.7 points or 0.2%.There were 73 gainers and 51 decliners on the main board with 36.08 million shares worth $151.36m changing hands.Matt Goodson, managing director of Salt Funds Management, said buying in large cap growth stocks seemed to b...

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