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It was all quiet on the New Zealand sharemarket, and investors were captivated by one of the fastest rises from the United States S&P 500 Index in its long history, fuelled by AI-linked stocks.
The S&P/NZX 50 Index slid gradually throughout the day in a choppy session, closing at 13,115.08, down 55.63 points, or 0.42%.
SBS Bank’s after-tax profit slipped lower in the March year as its modernisation expenses acted as bottom-line ballast amid a performance the deposit taker called resilient.
“This has been a year of steady progress for SBS,” group chief executive Mark McLean said, while noting the overall challenging economic environment.
Rio Tinto’s New Zealand aluminium business remained strongly profitable in 2025, with parent company Pacific Aluminium posting a $176 million profit as sales revenue rose to $1.49 billion and production increased at Tiwai Pt.
Pacific Aluminium (New Zealand), which owns 100% of New Zealand Aluminium Smelters (NZAS), reported pre-tax profit of $246m for the year ended Dec...
New Zealand’s financial regulator has filed 61 charges against six individuals over an alleged mortgage fraud.
The charges were filed at the Manukau District Court by the Financial Markets Authority (FMA) under the Crimes Act 1961, the Secret Commissions Act 1910 and the Financial Markets Authority Act 2011.
Deadshot, the well-loved cocktail bar on Ponsonby Rd, has announced it is to close down.
Owners Ali Walker and Heather Garland said the late-night watering hole, which once famously turned away pop star Pink, has been sold and will have its final night next weekend.