NZ shares fall as market rally evaporates - News Summed Up

NZ shares fall as market rally evaporates


The MarketsNZ shares fall as market rally evaporatesNew Zealand's headline share index fell on Wednesday as a global equity rally that started the week lost momentum with investors unwilling to bid up stocks ahead of an economic slowdown. Wednesday, June 29th 2022, 7:11PMby BusinessDeskThe S&P/NZX 50 Index fell 60 points, or half a percent, to 10,958.81 Turnover was $112 million. In NZ, Tourism Holdings led the benchmark index lower with a 4.7% drop to $2.23 followed by outdoor retailer KMD Holdings which fell 4.4% to $1.10. Other stocks chalking up 3% losses included specialist lending stock Heartland Group Holdings, stock market operator NZX, and electricity company Genesis Energy. The NZ dollar was trading 62.51 US cents at 3pm in Wellington, down from 62.96 cents yesterday.


Source: Stuff June 29, 2022 13:19 UTC



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