NZ market edges up while Fletcher Building goes into trading halt
The S&P/NZX 50 Index rose 13.1 points, or 0.12%, to 11,306.44. Turnover was $66.2 million. There were 72 gainers and 61 decliners on the main board.
Fletcher Building was the big news of the day.
Australian firm BGC – one of Western Australia’s biggest home builders – has claimed that issues with Fletcher Building subsidiary Iplex will cost the company A$1.8 billion (NZ$1.9b).
However, Fletcher said the figures produced by BGC are “designed to be inflammatory”. Fletcher was put in a trading halt at lunchtime today after BusinessDesk asked questions about the Iplex pipe problem.
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