NZ sharemarket flat as Restaurant Brands' shares plummet

Increasing costs and tighter consumer spending were bad news for Restaurant Brands. (Image: Restaurant Brands)

Mon, 07 Aug 2023

Pizza Hut and KFC operator Restaurant Brands plunged more than 12% after dramatically lowering its profit outlook as the New Zealand sharemarket opened the week on a flat note.Following a weak Wall Street over the weekend, the S&P/NZX 50 fell sharply at the opening and trod a rocky pathway to close at 11,934.24, down 8.96 points or 0.08%. The index reached an intraday high of 11,943.2 points.With a public holiday in New South Wales, trading on the Australian and NZ markets was light. There were 63 gainers and 63 decliners on the NZX with vo...

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