NZ market edges down as companies issue bad news

NZ market edges down as companies issue bad news
NZ’s market flattened out on subdued investor sentiment and bad news. (Image: Getty)
Ella Somers
New Zealand’s market flattened out on subdued investor sentiment as horticultural company Seeka and Fletcher Building downgraded their full-year results.The S&P/NZX 50 Index edged down 13.1 points, or 0.11%, to 11,776.25. Turnover on the entire market was $107.4 million and 63 stocks rose while 68 fell. Craigs Investment Partners investment adviser Peter McIntyre said the quietness in NZ’s share market of late was based on two things: investor concern over weakening demand out of China and a congressional testimony com...

More Markets

Tourism Holdings stalls as NZ sharemarket ends week on high
Markets Market Close

Tourism Holdings stalls as NZ sharemarket ends week on high

The NZ sharemarket bounced back as large-cap stocks balanced gains and losses.

Forsyth Barr shifts Turners Automotive to neutral
Markets

Forsyth Barr shifts Turners Automotive to neutral

The company has delivered five consecutive years of record earnings.

Vital board backs Tait takeover
Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Listed property firms welcome ‘Investment Boost'
Property

Listed property firms welcome ‘Investment Boost'

The tax policy could translate into millions in extra cash.