US dive brings down NZ stocks

US dive brings down NZ stocks
The NZ stock market followed the US markets down. (Image: Supplied)
Dan Brunskill
New Zealand's headline share index slipped on Thursday after key indices on Wall Street plunged overnight, after another big retailer reported poor earnings and set recession alarms ringing.The S&P/NZX 50 Index fell 51.34 points, or 0.5%, to 11,206.93. Turnover was $113 million.Stocks had been heading higher for several days as investors stepped in to buy heavily sold companies, but the rally broke last night when Target reported its net profit had halved.“The relief-rally trapdoor sprung … after Target's earnings resul...

More Markets

Rocket Lab looks to raise up to US$500 million
Markets

Rocket Lab looks to raise up to US$500 million

The money will fund acquisitions and general corporate and working capital purposes.

The who’s who of NZME’s board hopefuls
Markets

The who’s who of NZME’s board hopefuls

Who are the players causing ripples in investor and media circles?

Duke pins recovery hopes on lower interest rates
Retail

Duke pins recovery hopes on lower interest rates

The Briscoe Group chief said he is ‘thrilled to bits’ with the full-year result.

NZSA waves red flags over NZME 'takeover by stealth'
Markets

NZSA waves red flags over NZME 'takeover by stealth'

Billionaire's bid to 'transfer control' of media company raises ire of NZSA.