
Market close: NZ sharemarket rises despite a down day on Wall Street
An update from Tourism Holdings and quarterly inflation figures have driven movement.
An update from Tourism Holdings and quarterly inflation figures have driven movement.
Tourism Holdings expects 2025 profit to be well below $45.2 million forecast.
Ebos Group fell 6.38% to $36.10 after a $217m institutional placement.
Mainfreight rebounded $4.84 or 8.57% to $61.34, reaching a high of $62.50.
The NZX slides despite some rate relief.
Blue-chip stocks like Fisher and Paykel Healthcare rebounded by 10c to $33.55.
The NZX 50 Index plummeted 3.68% to 11,775.88, its worst drop since March 2020.
The NZ market is down more than 3% and the Australian market has plunged 6.3%.
The S&P/NZX 50 closed at 12,225.28, down 113.29 points or 0.92%.
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New Zealand shares bucked the trend across Asia as they edged higher.
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A further plunge on Wall Street dragged the NZ sharemarket down nearly 1 per cent.
Sharp rise despite lockdowns, rising interest rates, talk of US recession.
The New Zealand sharemarket finished the week on a subdued note.
Share markets have slumped but without a big single-day fall to grab headlines.
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