NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Markets

NZ stocks fall as investors await US inflation figure, interest rate decision - Market close

By Graham Skellern
NZ Herald·
12 Dec, 2023 05:36 AM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Synlait Milk fell to under $1 for the first time in 20 years after declining 8c or 7.62 per cent to 97c. Photo / NZME

Synlait Milk fell to under $1 for the first time in 20 years after declining 8c or 7.62 per cent to 97c. Photo / NZME

The New Zealand sharemarket shed more than half a per cent as it waited for the latest United States inflation rate and Federal Reserve’s stance on interest rates.

The S&P/NZX 50 Index was on a gradual slide all day and closed at 11,382.58, down 66.89 points or 0.58 per cent. The index has fallen 1 per cent in the last two trading days and is now 0.8 per cent behind for the year to date.

There were 50 gainers and 79 decliners over the whole market on volumes of 42.37 million share transactions worth $100.11 million.

Mark Lister, investment director with Craigs Investment Partners, said it’s understandable the local market has taken a breather after a six-week winning streak, the longest in a year.

He said the next two days are crucial if the rally is to continue. The US November consumer price index will be followed by the Federal Reserve’s monetary policy statement.

Advertisement
Advertise with NZME.

“We will see if the markets get what they want. The markets will be watching to see whether the Fed talks tough like our Reserve Bank and pours cold water on their hope for interest rate cuts,” Lister said.

The US markets remain positive. The Dow Jones Industrial Index was up 0.43 per cent to 36,404.93 points; S&P 500 increased 0.39 per cent to 4622.44; and Nasdaq Composite gained 0.2 per cent to 14,432.49.

Across the Tasman, the S&P/ASX 200 Index was up 0.51 per cent to 7235.8 points at 6pm NZ time.

Advertisement
Advertise with NZME.

US inflation is expected to fall to 3.4 per cent, down 0.2 per cent from the year ending October and its lowest level since April 2021. The Federal Reserve is also expected to keep its cash rate on hold and the markets are still predicting interest rate cuts next year.

At home, Ebos Group fell $2.15 or 5.73 per cent to $35.35; Fletcher Building was down 8c to $4.57; Freightways shed 10c to $8.27, Skellerup Holdings declined 17c or 3.39 per cent to $4.84; Vulcan Steel decreased 26c or 3.25 per cent to $7.74; and T&G Global was down 14c or 6.86 per cent to $1.90.

In the energy sector Mercury decreased 12.5c or 2 per cent to $6.135; Contact was down 12c to $7.72; and Vector shed 7c or 1.84 per cent to $3.73.

Port of Tauranga declined 14c or 2.57 per cent to $5.30 following the report that Bay of Plenty Regional Council is reviewing its majority shareholding.

Synlait Milk fell to under $1 for the first time in 20 years after declining 8c or 7.62 per cent to 97c. Synlait and Pacific Edge, down 0.002c or 2.3 per cent to 8.5c, are the two worst-performing stocks in the NZX top 50 over the past 12 months, having fallen 77 per cent and 83 per cent respectively.

Online travel provider Serko, up 9c or 2.14 per cent to $4.29, is the best performer, having risen 69.35 per cent.

Other gainers were Auckland International Airport adding 7c to $8.30; Sky TV up 6c or 2.21 per cent to $2.78; and Bremworth increasing 4c or 7.14 per cent to 60c.

Hallenstein Glasson was down 18c or 3.23 per cent to $5.40 after telling shareholders at the annual meeting that group sales declined 4.7 per cent for the first 19 weeks of the new financial year compared with the same period last year. However, gross margin has increased despite the continued strength of the US dollar.

Advertisement
Advertise with NZME.

In the property sector, Investore fell 5c or 4.55 per cent to $1.05 and Precinct was down 3c or 2.5 per cent to $1.17.

SkyCity Entertainment, down 3c to $1.75, has settled its dispute with MPF Parking NZ, paying compensation of $204m for the return of the Auckland carpark.

Takeover target Rakon declined 6c or 5 per cent to $1.14 on 321 trades worth $2.148m.

Other decliners were Comvita falling 13c or 5.53 per cent to $2.22; Delegat Group decreasing 11c to $6.58; NZME shedding 3c or 3.33 per cent to 87c; PGG Wrightson down 11c or 3.19 per cent to $3.34; and 2 Cheap Cars giving up 3c or 3.41 per cent to 85c.

Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Latest from Markets

Premium
Shares

Market close: NZ sharemarket flat as tensions rise over potential Iran strike

12 Jun 06:14 AM
Premium
Media and marketing

‘Fastest to $20m revenue’ - Tracksuit's rapid growth, $42m raise

11 Jun 05:00 PM
Premium
Shares

Market close: Fletcher Building shares rise as NZ market gains momentum

11 Jun 06:46 AM

It was just a stopover – 18 months later, they call it home

sponsored
Advertisement
Advertise with NZME.

Latest from Markets

Premium
Market close: NZ sharemarket flat as tensions rise over potential Iran strike

Market close: NZ sharemarket flat as tensions rise over potential Iran strike

12 Jun 06:14 AM

The S&P/NZX 50 closed up 0.34% today after a spike in oil prices globally.

Premium
‘Fastest to $20m revenue’ - Tracksuit's rapid growth, $42m raise

‘Fastest to $20m revenue’ - Tracksuit's rapid growth, $42m raise

11 Jun 05:00 PM
Premium
Market close: Fletcher Building shares rise as NZ market gains momentum

Market close: Fletcher Building shares rise as NZ market gains momentum

11 Jun 06:46 AM
Premium
Market close: SkyCity loses spot on the 20

Market close: SkyCity loses spot on the 20

10 Jun 05:56 AM
The woman behind NZ’s first PAK’nSAVE
sponsored

The woman behind NZ’s first PAK’nSAVE

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP