NZ market peters out in slow start to year

The sharemarket still seems to be on a summer holiday. (Image: Deposit Photos)

Fri, 05 Jan 2024

The New Zealand sharemarket ended its first abbreviated week of trading on a down note as the summer holidays kept trading thin. The benchmark S&P/NZX 50 Index ended the three-day week down 0.2% as it fell 10.63 points, or 0.1%, to 11,748.48 today. Across the main board, 50 stocks fell and 71 rose, with 19.1 million shares changing hands on a turnover of $53.4m. “The market’s driving in a fairly subdued start to the new year after a pretty blistering end in the last couple of months,” said Greg Smith, head of ret...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Law & Regulation

FMA files criminal charge against Prem Gounder

The Financial Markets Authority (FMA) has filed a criminal charge against former Auckland-based financial adviser Prem Gounder for dishonestly using a document.The FMA alleges that Gounder, while acting as a licensed financial adviser, submitted a false document, namely a gifting...

Staff reporters 12:40pm

Travel