
Market Close: Why interest rate cuts couldn't boost NZ sharemarket
The NZX slides despite some rate relief.
The NZX slides despite some rate relief.
Blue-chip stocks like Fisher and Paykel Healthcare rebounded by 10c to $33.55.
PLUS: The sector that will 'escape a direct hit'.
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 US$6.6t two-day rout is only rivalled by 2020's pandemic meltdown and the GFC
The S&P/NZX 50 closed at 12,225.28, down 113.29 points or 0.92%.
More volatility is predicted to be in store as the day progresses.
The S&P/NZX 50 Index recovered to close at 12,338.57, up 0.15%.
The S&P/NZX 50 Index closed at 12,312.6, up 42.6 points or 0.35%.
Airport's share prices rises as its weighting on S&P index increases.
In the final episode of Market Watch, we look back at nine years of share market growth.
PLUS: Being AI finally finds three independent directors - and they're big names.
The company has not announced the contract but is advertising a new analyst role.
The NZ sharemarket closed down 28.39 points or 0.23%.
S&P/NZX 50 enjoys biggest single-day rise in four months.
Minister is considering changes.
NZ market follows lead of the US.
But the S&P/NZX 50 index remained down 1.25% for the week.
Channel Infrastructure counters positive GDP bump.
GDP data out tomorrow will reveal if NZ is out of recession.
Fisher and Paykel Healthcare fell nearly 2% on heavy trading.
A2 Milk soars, Smartpay surges amid takeover bids, NZ stocks dip.
Some employees say their retirement funds have disappeared due to dilution.
The latest on the markets.
The sell-down in the US markets continued.
Wall St stocks plummeted as investors fretted tariffs could lead to a recession.
NZ stocks close almost one percent higher after a late buying surge.
The New Zealand sharemarket closed down but didn't fall as much as stocks in the US.
The local index was green for the first day this week.