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Markets
NZX has tools to keep trading orderly
NZX Regulation has reminded listed companies that it has circuit-breakers at its disposal to manage market volatility and can halt trading to calm disorderly trading.The stock market operator’s regulation arm said its circuit-breakers apply at a financial product level rather tha...
Services
Air NZ bailout likely as mass redundancies loom
A bail-out of Air New Zealand looks likely as the national airline lays the groundwork to slash its 8,000-strong workforce by up to 30 percent in the wake of the covid-19 outbreak.Trading in the shares was halted today at $1.54, valuing the national carrier at $1.7 billion, compa...
Markets
MARKET CLOSE: Tourism stocks plunge as border effectively closed
New Zealand shares fell as investors reacted to new requirements that all travellers entering the country self-isolate for 14 days.The S&P/NZX fell 349.92 points, or 3.6 percent, to 9,476.94. Within the index, 41 stocks fell, two were unchanged and seven fell. Turnover was $223.5...
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Markets
NZX50 drops; THL plunges 30% as borders close
New Zealand shares fell in early trading as the government's decision to effectively close the country's borders saw many travel and tourism companies drop their earnings forecasts as they struggle to work out the impact of the outbreak. That was in spite of the Reserve Bank slas...
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