NZ stocks sharply down as beaten-up Synlait plunges on earnings guidance
The S&P/NZX 50 Index fell at the opening and stayed low for the remainder of the day.
The S&P/NZX 50 Index fell at the opening and stayed low for the remainder of the day.
The firm also reduced its forecast base milk price for the 2022-23 season.
F&P Healthcare and Meridian also did some heavy lifting as the market rose.
Synlait shares have gone into a trading halt pending a revision of earnings guidance.
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The New Zealand sharemarket had another meandering day.
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The NZ sharemarket posted a small gain but still hasn’t fired up since the Easter break.
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The New Zealand sharemarket fell despite a rally in the last half hour matching session.
The New Zealand sharemarket perked up with a half per cent gain.
Despite a strong Friday on Wall Street, the NZ sharemarket went in the opposite direction.
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The local index followed a strong day on Wall Street.
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The buyers, so prevalent the day before, disappeared and the NZ sharemarket lost ground.
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A big turnaround in the second half put NZ King Salmon back in the black for the year.
The leading energy and retirement stocks led a strong revival on the local market.
But the listed property stocks had solid rises.
New Zealand shares finished the week on a flat note.
The local market bucked the trend from overseas to make a small gain.
Credit Suisse was a big player in the NZ capital markets from 1990 through to 2021.