NZX50 dips for third day in a row

NZX50 dips for third day in a row
Infratil's capital raise and Auckland airport dominated the market today. (Image: Getty)
Graham Skellern
The New Zealand sharemarket lost ground for the third successive day, weighed down by the Infratil equity raising and a sudden increase in wholesale interest rates.The S&P/NZX 50 Index slid mid-morning and closed at 11,715.74, down 43.4 points or 0.37%. The index has fallen 1.5% so far this week and is up 2.1% for the year.There were 43 gainers and 81 decliners over the whole market on volumes of 41.65 million share transactions worth $163.32m.Wholesale interest rates increased around western markets, with the NZ 10 Year Government Bond yie...

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.