
Market close: Millennium hotel takeover offer bright spot in quiet sharemarket
The market still declined despite the corporate action.
The market still declined despite the corporate action.
Shares in the company rose $1.05 or 2.77% to $38.90, its second-highest close.
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Auckland airport, Tourism Holdings and Millennium and Copthorne Hotels NZ all rose.
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The decline comes after the index was up 11.4% in 2024.
The New Zealand stock exchange reported a decline as overseas markets led the way.
It was a soft start to the year on worries about higher bond rates.
The S&P 500 and Nasdaq rose to record highs last year.
But the NZX index finished the year with a gain of 11.4%.
The index hit its highest point of the year after a late run.
Value of deals in 2024 was less than half the value of those the previous year.
NZ GDP falls 1% in September quarter; analysts expected 0.4% decline.
The local index is closing in on double-digit growth this year.
Business Editor-at-Large Liam Dann talks to Pie Funds founder and CIO Mike Taylor about what to expect from the year to come. Video / NZ Herald
It was an up and down day for the NZ sharemarket.
OPINION: Ultimately, a public listing may be needed for it to reach a competitive scale.
The NZ sharemarket rose after falling on five of the last six trading days.
The heavy trading in Auckland International Airport continued.
The New Zealand sharemarket's trading line looked like a downhill ski run.
The local index lacked any real direction.
Chorus came out firing with a pledge to be more competitive.
The New Zealand sharemarket fell more than 1%.
Watch: Liam Dann talks to Mike Taylor about the outlook for the share market.
Turners Automotive provided the local index with more confidence and strength.