NZ market follows the US as investors wait for Fed’s decision

NZ market follows the US as investors wait for Fed’s decision
(Image: Getty)
Ella Somers
New Zealand's benchmark share index headed downward on Tuesday, following US market sentiment as investors wait for the US Federal Reserve meeting later this week.The S&P/NZX 50 Index fell 52.5 points, or 0.5%, to 11,344.52. Turnover was $83 million. There were 45 gainers and 83 decliners on the main board.The US Federal Reserve meets over the next two days, and while it’s expected to pause rate hikes, CMC Markets analyst Tina Teng said the central bank’s stance on further moves could be “critical” for market tre...

More Markets

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.