Market close: NZ shares finish flat after a rocky day
The market was boosted by leading insurer Tower’s second earnings upgrade in two months.
The market was boosted by leading insurer Tower’s second earnings upgrade in two months.
Australasian investment firm Mercury Capital has exited, selling its 71 per cent stake.
The New Zealand sharemarket recorded its third successive fall.
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The New Zealand sharemarket had a late dive as investors took some profit.
The Roaring Kitty has returned.
The stock has been the market’s strongest performer to date.
The New Zealand sharemarket remained reasonably resilient with a slight fall.
The merger is still subject to Commerce Commission and High Court approval.
The buyer paid $3.6 million for 10.6 per cent stake.
But the NZ sharemarket managed to make a small gain.
Richardson will be replaced by Leon Fung.
The S&P/NZX 50 Index had one of its biggest single-day rises in years.
Liquidators have moved in, will run a stock sale next week and then look to sell business.
The reporting season has done little to bolster the NZX.
The New Zealand sharemarket fell one per cent to a near-low for the year.
The local index was slightly lower.
Market expectations are for a $10-15b increase in the NZ bond tender programme.
Despite the excitement from Vista, the sharemarket still ended the day lower.
Price of Fonterra farmer-owned shares surged over possible consumer business sale.
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The local index followed a sharp drop on Wall Street.
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The S&P/NZX 50 Index had a solid day’s trading, rising more than half a per cent.
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