NZ shares rise; Tourism Holdings rallies on joint venture exit
New Zealand shares rose, led by Tourism Holdings as investors welcomed news the rental RV operator would shore up its balance sheet by selling down its stake in a joint venture project rather than raising money at a steep discount.
MORE»After the ups; the downs
New Zealand shares fell, led by a slump in Kathmandu Holdings after the retailer raised funds at a steep discount. Fears about the severity of the covid-19 outbreak in the US also weighed on investor sentiment.
MORE»Investors eye eventual recovery
New Zealand shares rose as investors revisited some of the hardest hit stocks as they started preparing for other side of the covid-19 crisis.
MORE»Investors rejig portfolios; Gentrack soars
New Zealand shares rose as institutional investors increased their exposure to equities at the end of the March quarter, and as central bank support raises the prospect of a rally following the coronavirus crash. Gentrack soared after it affirmed earnings guidance.
MORE»Exporters F&P Healthcare, A2 enjoy weak kiwi; NZX rises
New Zealand shares were dragged higher as a weaker kiwi dollar lifted the value of export earnings for heavyweights Fisher & Paykel Healthcare and A2 Milk Co.
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