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

NZ stocks follow Wall Street lower

By Gavin Evans
BusinessDesk·
13 Nov, 2018 04:40 AM3 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

Westpac Banking Corp led the declines, down 5.5 per cent at $28.08. Photo / File

Westpac Banking Corp led the declines, down 5.5 per cent at $28.08. Photo / File

New Zealand shares fell after a sharp drop on Wall Street overnight spooked investors throughout Asia's markets.

The S&P/NZX 50 index fell 95.33 points, or 1.1 per cent, to 8,861.52. Within the index, 29 stocks fell, 10 were unchanged and 11 rose. Turnover was modest at $100.5 million.

US stocks fell for a second day amid signs of slowing tech growth and a sharp fall for Goldman Sachs after Malaysia said it would seek full refunds from any fraudulent bond deals the bank conducted in relation to the country's sovereign wealth fund.

The Dow Jones Industrial Average fell 2.3 per cent, while the S&P 500 Index fell by almost 2 per cent.

Hamilton Hindin Greene director Grant Williamson said the local market had performed quite well today, particularly given the weaker performance in Australia. The S&P/ASX 200 index was recently down 1.7 per cent at 5840.70.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Among the bigger local decliners were A2 Milk Co, down 2.3 per cent at $10.30, and Ryman Healthcare, down 4.4 per cent at $11.85. Westpac Banking Corp, down 5.5 per cent at $28.08, led the declines.

"A lot of that is being led out of the Australian market," Williamson said.

"Both A2 and Ryman are widely held by Australian investors" and they have suffered with the weaker sentiment in that market, he said.

Advertisement
Advertise with NZME.

Spark New Zealand was the heaviest traded stock today with almost 5.4 million changing hands – twice the daily average the past three months. It was up 0.5 per cent at $4.11, a new closing high.

Williamson said it was a good outperformance, relative to the rest of the market, for one of the country's leading stocks.

The company last week announced it will move into its own sports content production and said it has the capability to go after all sport in New Zealand for its streaming service.

Other stocks to have more than a million shares traded today were Meridian Energy, down 1.8 per cent at $3.22, Contact Energy, down 1.2 per cent at $5.80, Fisher & Paykel Healthcare, down 2.5 per cent at $13.70, and Precinct Properties, unchanged at $1.43.

Discover more

Business

Barbecue woes: Lamb and sausage prices on the rise

12 Nov 10:32 PM
Business

10 questions with restaurateur and co-owner of Burger Burger

12 Nov 11:17 PM
Energy

Power outages will get worse, Vector head says

13 Nov 04:50 AM
Business

Dollar holds its ground against greenback

13 Nov 04:13 AM

Port of Tauranga rose 0.4 per cent to $5.12. The company told investors today it is budgeting on another year of strong container and bulk cargo growth and has started planning for expansion of its container berth and optimisation of its container terminal.

Chemist and animal healthcare business Ebos Group rose 1.1 per cent to $20.94 on light volume. Almost 20,700 shares changed hands, less than a third of the daily average the past three months.

Infratil, which today reported a 19 per cent increase in half-year operating earnings and raised its full-year forecast, fell 1.3 per cent to $3.485.

Williamson said there is a lot of positive news across the company's investment portfolio, although imputation credits on the firm's dividends have fallen as the group's offshore earnings have increased.

Among the smaller players, brewer Moa Group rose 2.4 per cent to 42 cents after signalling strong sales growth will get it close to breaking even in the six months through March.

Save

    Share this article

Latest from Business

Premium
Personal Finance

Company that lends flexible line of credit for divorce proceedings launches in NZ

13 Jul 05:00 AM
Construction

Insulation rule changes could cut $15k from new build costs

13 Jul 04:00 AM
Premium
Opinion

Phil O'Reilly: NZ business must rethink how it sees Europe

13 Jul 03:00 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
Company that lends flexible line of credit for divorce proceedings launches in NZ

Company that lends flexible line of credit for divorce proceedings launches in NZ

13 Jul 05:00 AM

Aussie lender JustFund aims to bring over 100 Kiwi law firms on board by the end of 2025.

Insulation rule changes could cut $15k from new build costs

Insulation rule changes could cut $15k from new build costs

13 Jul 04:00 AM
Premium
Phil O'Reilly: NZ business must rethink how it sees Europe

Phil O'Reilly: NZ business must rethink how it sees Europe

13 Jul 03:00 AM
Premium
Sasha Borissenko: Is gig work freedom or friction?

Sasha Borissenko: Is gig work freedom or friction?

13 Jul 12:01 AM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

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