New Zealand Shares Fall, Tracking Wall Street Losses; Synlait Milk Appoints Chief Revenue Officer

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New Zealand Shares Fall, Tracking Wall Street Losses; Synlait Milk Appoints Chief Revenue Officer

MT Newswires Live11-18

New Zealand shares fell on Tuesday as most Asian markets saw losses following a Monday session of selloff on Wall Street.

The S&P/NZX 50 Index fell almost 1.2% or 156.22 points to close at 13,342.82.

On Monday, the S&P 500 ended 0.9% lower, while the Nasdaq Composite fell 0.8%, and the Dow Jones declined 1.2%.

Markets await important company earnings from the US this week, including Nvidia, Home Depot, and Walmart.

In domestic news, the Reserve Bank of New Zealand said that mean business expectations for annual CPI inflation declined across all time horizons as mean one-year-ahead annual inflation expectations decreased from 2.5% to 2.4%.

In corporate news, Synlait Milk( (NZE:SML, ASX:SM1) appointed Hamish Yates as chief revenue officer, effective December.

Contact Energy (NZE:CEN, ASX:CEN) said retail mass market electricity sales and gas sales both grew year over year in October.

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