day run as KMD Brands confirms asset sale talks – Market close
The New Zealand sharemarket saw a slight decline as KMD Brands confirmed asset sale talks and Infratil gained on data center speculation. Global markets showed mixed results while oil prices dipped below $100 per barrel.
Why it matters
Market fluctuations and corporate restructuring in New Zealand reflect broader trends in regional economic stability and global energy pricing.
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The owner of retailers Kathmandu and Rip Curl has confirmed it is talking to parties about asset sales.
The New Zealand sharemarket’s strong run ended with a 0.4% fall, and the owner of retailers Kathmandu and Rip Curl confirmed it was talking to parties about asset sales.
The S&P/NZX 50 Index traded between 13,813.56 and 13,901.61 before closing at 13,821.76, down 53.72 points or 0.39%. The index had risen nearly 2.9% in the five previous trading days.
There were 73 gainers and 67 decliners on the main board, and turnover reached 28.37 million shares worth $131.79 million.
Matt Goodson, managing director of Salt Funds Management, said there weren’t any great leads from offshore and it was a quiet day on the New Zealand market.
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