Sharemarket has another late surge into positive territory

Seeka had some grim news for investors today. (Image: Getty)

Wed, 19 Apr 2023

The New Zealand sharemarket is perfecting the art of 'the late surge', and the country’s biggest kiwifruit grower Seeka has warned its latest harvest could be down as much as 20%.After trading flat for most of the day, the S&P/NZX 50 Index rose sharply in the last half-hour matching session and closed at 11,917.82, up 33.72 points or 0.28% – after reaching an intraday low of 11,845.01.There were 58 gainers and 75 decliners over the whole market and volumes picked up with 51.09 million shares worth $161.9m changing hands....

Unlock all stories free for 10 days

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

We won’t charge for 10 days. 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].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
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 }}

Property

Kāinga Ora CEO leaving with golden handshake

The new-look, post-review housing agency is not what the CEO signed up for, chair says.

Maria Slade 3:15pm

The Quiz Free

QuiznessDesk: Monday, July 01

Can you answer all ten questions correctly?

The Quizmaster 9:15am

Economy

Independent costings needed for tough political decisions

The time is now for an Independent Fiscal Institution.

Cameron Bagrie 7:40am

Independent costings needed for tough political decisions

Sponsored

Smart chargers don't just charge EVs

They also take the pressure off a stressed power network - We.EV

We.EV

Sponsored

Big change coming to insurance

Industry reset sees risk-based pricing coming for many homeowners.

VERO

More Markets

Markets

Rakon investor raises issues over failed bid

Minority investor Mike Daniel has raised fresh questions about a $400 million bid that was ultimately snubbed by Rakon’s board.The NZ Shareholders Association (NZSA) shares Daniel’s disappointment that millions were spent on takeover talks with nothing to show, but also offered s...

Staff reporters 2:10pm

Markets

New Talisman Gold Mines halts trading

On Monday, Australian and New Zealand Exchange-listed New Talisman Gold Mines halted NZX trading.The halt follows the Australian Securities Exchange's (ASX) decision to suspend trading in New Talisman Gold Mines securities on that exchange following the release of the company...

Staff reporters 12:30pm