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New Zealand's sharemarket closed mixed as a massive 24% surge in Tourism Holdings, sparked by a revised NZ$3.10 takeover offer from BGH Capital, offset a widened annual loss of $8.7 million from newly listed Taiko Critical Minerals.
Air New Zealand is set to launch three new non-stop international routes from Christchurch to Singapore, Tokyo, and Perth starting in late 2026, supported by the return of its Boeing 787 fleet.
The NZX 50 index climbed 0.9% to 13271 points on Thursday, led by an 11% surge in Gentrack and a 3% gain for Infratil. While technology and infrastructure stocks thrived on AI optimism, consumer-facing companies like SkyCity and Tourism Holdings saw declines.
The New Zealand Exchange's benchmark NZX50 index gained 0.4% on Monday, driven by positive performances from Auckland Airport, Air New Zealand, and Contact Energy. The lift comes amid broader economic challenges, including elevated inflation and high fuel costs.
The NZX50 index climbed 1.2% on Tuesday, recovering from recent losses. Significant gains in Gentrack and Fisher & Paykel Healthcare helped offset broader market declines seen earlier in the week.
Australia's 2026 economic outlook remains cautious, with the IMF projecting 2.0% GDP growth and inflation hitting 4.0%. As the RBA prepares for further rate hikes, consumer sentiment has fallen to near-record lows.