Iranian missiles bring market down; Burger Fuel serves last burger in Iraq
The S&P/NZX 50 Index dropped 72.88 points, or 0.6 percent, to 11,556.98. Within the index, 29 stocks fell, 15 rose, and six were unchanged. Turnover was $89.1 million.
Stocks across Asia were weaker as reports of the Iranian missile attack emerged. However, they recovered some of those losses when Iran’s foreign minister, Mohammad Javad Zarif, said the attack was a proportionate response to the fatal US drone strike on senior military commander Qassem Soleimani last week and that Iran wouldn’t escalate the situation. The NZX50 fell as much as 1.2 percent during the session before bouncing back late in the day.
Acting Prime Minister Winston Peters said the missile attacks didn’t target Camp Taji, where 45 New Zealand military personnel are based, and called for diplomacy to help ease the tensions.
“The government is working actively with our partners through military and diplomatic channels, and we continue to keep the security situation under close review, including implications for our personnel,” Peters said.
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