MARKET CLOSE: NZX50 hits record; buoyed by business confidence, M&A
The S&P/NZX 50 Index hit a record as investor sentiment was buoyed by a recovery in the latest business confidence survey and a better than expected earnings season, and a growing appetite among private equity buyers to pursue mergers and acquisitions. The benchmark index ros...
Savour spruces up Moa accounts with positive earnings
The Savour Group hospitality chain added a bright sheen to Moa Group’s first-half result with positive operating earnings, albeit a little softer than the brewer had flagged earlier this year.Moa’s hospitality arm reported earnings before interest, tax, depreciation and amortisat...
British uncertainty looms as Gentrack posts loss
Utilities software developer Gentrack posted a loss, as expected, having written off a dud investment earlier this year, while the impact of customers going bust weighed on underlying earnings.The Auckland-based company reported a net loss of $3.3 million in the 12 months ended S...
NZ dollar stuck in recent ranges as upbeat US data bolsters sentiment
The New Zealand dollar held to its recent trading ranges as stronger than expected US economic growth helped push stocks on Wall Street to a record. The kiwi dollar traded at 64.24 US cents at 8:10am in Wellington from 64.26 cents at 5pm yesterday. The trade-weighted index was...
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