Business

Market close: a2 Milk surges on positive signs from China

Signs that China sales channels have improved gave dairy nutritional company a2 Milk a huge boost as it surged more than 12 per cent on a recovering New Zealand sharemarket. Global marketer a2 Milk leapt 76c or 12.38 per cent to $6.90, driving the S&P/NZX 50 Index to a close of 13,025.18, up 28.92 points […]

Business

Market close: Fisher and Paykel Healthcare drives down NZ sharemarket

Heavyweight Fisher and Paykel Healthcare almost single-handedly drove the New Zealand sharemarket down nearly half a per cent as health stocks were hit overseas. The S&P/NZX 50 Index fell 62.28 points or 0.47 per cent to 13,108.61, after reaching an intraday high of 13,178.47. There were 62 gainers and 67 decliners over the whole market, […]

Business

Market close: Blue chip stocks hit as volatile sharemarket falls sharply

The volatile New Zealand sharemarket gave up exactly the strong gains of the day before to close the week down more than 1 per cent – with blue chip stocks being hit. The S&P/NZX 50 Index fell sharply after the Asian markets opened and traded softly, and finished at 12,594.52, down 134.32 points or 1.06 […]

Business

New Zealand’s smartphone market: Apple, Samsung, Vodafone, Huawei – who got thumped in the first quarter?

Shortage, shmortage. Like New Zealand’s auto industry, which had record sales in May, the smartphone market has rebounded – and then some. In the first quarter of last year smartphone sales dived as lockdowns hit, closing stores and more punters diverted funds to upgrading laptops and monitors as the workforce scattered to home offices. But […]

Business

Market close: Synlait, a2 Milk rebound on China baby news

China’s new three-child policy may have just given a2 Milk and Synlait a timely boost as their prices rebounded on an improving New Zealand sharemarket. The S&P/NZX 50 Index recorded a significant gain for the second day running, closing at 12,462.47 – up 141.75 points or 1.15 per cent, following its Monday 1.14 per cent […]

Business

Market close: Late surge lifts NZ sharemarket to gain

The New Zealand sharemarket had a late surge after trading flatly for most of the day as the Reserve Bank signalled business-as-usual in its monetary policy. The S&P/NZX 50 Index closed 94.96 points or 0.75 per cent ahead at 12,751.38, after moving from an intraday low of 12,656.42. There were 85 gainers and 55 decliners […]

Business

Market close: Solid company results fail to please investors

The New Zealand sharemarket is presently proving hard to please. Solid company results continue to flow through, and instead the market has shrugged its shoulders and neared correction territory with its 13th drop in 16 trading days this month. The S&P/NZX 50 Index was down 37.39 points or 0.3 per cent to 12,388.84, just short […]

Business

Market watchdog FMA slams NZX over cybersecurity breaches, says critical gaps remain

A market watchdog has released a damning report on cyberattacks that hit the NZX over August and September last year, forcing it offline for several trading days, plus an earlier, volume-related glitch that forced it offline during April 2020. The Financial Markets Authority said the NZX had been short on technology and people skills – […]

Business

S&P, Nasdaq close at record highs on optimism about Biden stimulus plan

(Reuters) – The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labor market recovery.FILE PHOTO: The New York Stock Exchange (NYSE) is seen in the financial district of New York, U.S., January 13, […]

Business

China Luxury Goods Market to Grow 48% This Year, Says Bain and Tmall

SHANGHAI — The luxury goods market in mainland China will likely achieve 48 percent growth in 2020, reaching nearly 346 billion renminbi, or $52.8 billion, according to a joint report by Bain and Tmall released Wednesday, doubling China’s overall share of the global luxury market this year. On the e-commerce front, China’s annual luxury online […]