Market close: Energy stocks drag down NZ sharemarket
20 Apr, 2021 05:38 AM
4 minutes to read
By: Graham Skellern
The New Zealand sharemarket gave up some of its recent hard-earned gains, led down by the energy stocks hit by dry weather in both the North and South Islands. The S&P/NZX 50 Index fell 89.28 points or 0.7 per cent to 12,678.55, and the index did stage a late recovery after reaching an intraday low of 12,574.25. There were 51 gainers and 94 decliners over the whole market, with 52.36 million shares worth $197.88 million changing hands.
Matt Goodson, managing director of Salt Funds Management, said the question is, do markets keep on running? The corporate earnings outlook is reasonable without being outstanding, and it depends on whether central banks will maintain their present monetary policy with inflation starting to creep in.
Market close: NZ sharemarket unnerved by rebalancing nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.
Market close: NZ sharemarket falls nearly 1% ahead of ETFS activity
15 Apr, 2021 05:38 AM
4 minutes to read
After some steady rises over the past two weeks, both Contact and Meridian fell. Photo / Supplied
After some steady rises over the past two weeks, both Contact and Meridian fell. Photo / Supplied
NZ Herald
By: Graham Skellern
The New Zealand sharemarket was a little edgy and fell nearly 1 per cent as it awaited Friday s unique exchange traded funds activity in the leading energy stocks, Contact and Meridian. The S&P/NZX 50 Index closed at 12,636.55, down 114.83 points or 0.9 per cent on solid volume of 64.6 million share transactions worth $219.62 million. The index fell from an early morning burst that reached 12,770.83 points.
April 13, 2021
In New Zealand and casino operator SkyCity Entertainment Group Limited has reportedly announced that it is to permanently cease using junket firms to attract high-value foreign gamblers to its four properties.
According to a report from Inside Asian Gaming, the Wellington and Sydney-listed company is responsible for New Zealand’s SkyCity Auckland, SkyCity Hamilton and SkyCity Queenstown properties and recently spent in the region of $243 million so as to renovate its SkyCity Adelaide venue in Australia. The source detailed that the shake-up comes after the casino operator completed an eight-week strategic review into its international business that found potential due ‘diligence’ and ‘know your customer’ shortfalls connected to the use of junket firms.
Market close: Investor confidence returning as sharemarket rises more than 1 per cent
8 Apr, 2021 05:35 AM
4 minutes to read
Tourism Holdings had strong day, rising 7c or 2.63 per cent to $2.73. Photo / Supplied
NZ Herald
By: Graham Skellern Buyers were again active as the New Zealand sharemarket took a lead from positive offshore bourses to post more than one per cent gain – representing a rise of nearly two per cent in two trading days.
On Wall Street, the Dow Jones Industrial Average and S&P 500 index hit all-time highs this week, the London FTSE 100 Index was up 0.9 per cent overnight, the Hong Kong and China market were ahead, and the Australian S&P/ASX 200 Index was up 0.89 per cent to 6900 points at 5.45pm (NZ time).