New Zealand Shares Fall 0.7% as Consumer, Travel Stocks Tumble -- Market Talk

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New Zealand Shares Fall 0.7% as Consumer, Travel Stocks Tumble -- Market Talk

Dow Jones10-30

0413 GMT - New Zealand's NZX-50 closed 0.7% lower at 12694.84, slipping lower for the week amid weakness in consumer, travel and financial stocks. Retail trio Warehouse, Hallenstein Glasson and KMD Brands lost between 1.9% and 5.4% amid continued uncertainty over how far the country's central bank might cut interest rates at its next meeting. Air New Zealand, Auckland International Airport and campervan rental provider Tourism Holdings lost between 0.9% and 5.45%. Banks ANZ, Westpac and Heartland shed between 1.2% and 1.9%. Utilities pared the overall losses, with Meridian Energy, Contact Energy and Mercury NZ adding between 0.5% and 2.3%. Wednesday's fall put the NZX-50 on course for a third straight weekly decline. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

October 30, 2024 00:13 ET (04:13 GMT)

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