New Zealand Shares Slide as Domestic Income Rises; Greenfern Industries' Shares Decline 13% on CEO Resignation

MT Newswires Live08-22

New Zealand shares slid on Thursday's close following a report that said domestic median weekly and hourly income rose in the June quarter.

The S&P/NZX 50 Index fell 0.27% or 33.62 points to close at 12,469.35.

Stats NZ reported in its Household Labor Market Survey that New Zealand's median weekly income rose by NZ$38 or 4.2% to NZ$959 in the June quarter, while median hourly pay rose by NZ$1.91 or 6% to NZ$33.56.

Median wages and salaries in the June quarter rose by NZ$70 or 5.5% to NZ$1,343, and median wages from government transfers rose by NZ$21 or 4.8% to NZ$45.

In corporate news, pharmaceutical firm Greenfern's (NZE:GFI) shares declined 13% on market close following the resignation of its chief executive officer Dan Casey, effective Thursday.

Gaming firm SkyCity Entertainment Group (NZE:SKC, ASX:SKC) swung to a loss per share in the fiscal year ended June 30 to NZ$0.189, compared with the prior-year period's earnings of NZ$0.011 per share. Its shares were 3% lower on close.

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