NZ dollar treads choppy waters; traders hang on virus headlines

Jenny Ruth
Tue, 31 Mar 2020

The New Zealand dollar remained volatile through the day as traders continue to watch headlines for developments in the coronavirus crisis. The kiwi was trading at 60.16 US cents at 5pm in Wellington compared with 60.22 cents at the same time yesterday, having traded between 59.44 and 60.36 cents. The trade-weighted index was at 68.79 from 68.89. "It's a very tricky market at the moment," said Mitchell McIntyre, a dealer at XE. "We're at the mercy of headlines and ongoing updates from countries in terms of how they're getting on." The...
Southern Cross Travel to shed 45 jobs
Brent Melville | Tue, 02 Jun 2020

Southern Cross Travel Insurance plans to cut half of its remaining workforce in the wake of limited travel under covid-19 restrictions, although the rest of the group remains unscathed. The company...

MARKET CLOSE: NZ shares soar as investors get FOMO
Dan Brunskill | Tue, 02 Jun 2020

New Zealand shares rose as investors found confidence in the Prime Minister bringing forward a decision about the move to alert level 1. Tourism Holdings and Gentrack led the market higher with double...

Metlifecare seeks shareholder support for action against ex-suitor, EQT
Paul McBeth | Tue, 02 Jun 2020

Metlifecare will seek shareholder support to pursue litigation against its former suitor after the High Court rejected an application that would have preserved a shareholder vote on the teetering $1.5...

Telcos in lockdown, and beyond

Geoff Thorn, CEO, NZ Telecommunications Forum says modern connectivity was a major benefit during lockdown, so it’s important to ensure long term sustainability of the networks