Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ stocks resume slide as French banks come under pressure

NZ stocks resume slide as French banks come under pressure, Wall St drops

Aug. 11 (BusinessDesk) - New Zealand stocks fell, erasing much of yesterday’s relief rally and edging back toward an 11-month low as speculation about the health of France’s banks and credit rating sent global equity markets lower.

The NZX 50 Index fell 57.90, or 1.8%, to 3,125.83 at the open, having gained 2.9% yesterday. The index shed more than 8% in the preceding three sessions.

Manufacturers led the slide. Tap maker Methven Ltd. fell 4.8% to $1.38 and Nuplex Industries, the specialty chemicals maker, dropped 4.2% to $2.29.

Australia & New Zealand Banking Group fell about 4% to $23.82. On Wall Street, the Dow Jones Industrial Average tumbled 4.6% and in Europe, France’s CAC 40 declined 5.5%, led by a 15% drop in Societe Generale.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Stats NZ: Quarterly Inflation Rising Steadily Across The Board

Higher prices for transport and food have driven up inflation for the all households group in the June 2021 quarter, Stats NZ said today. The ‘all households group’ represents all private New Zealand-resident households... More>>


Stats NZ: Primary Products Push Exports To A New High

New Zealand exports reached a new high in June 2021, off the back of record export values for logs and beef, Stats NZ said today. In June 2021, the value of all goods exports rose... More>>



Energy: New Zealand Could Be World’s First Large-scale Producer Of Green Hydrogen

Contact Energy and Meridian Energy are seeking registrations of interest to develop the world’s largest green hydrogen plant. The plant has the potential to earn hundreds of millions in export revenue and help decarbonise economies both here and overseas... More>>




Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>

ALSO: