NZ sharemarket dragged down by THL, Spark
The S&P/NZX 50 Index fell sharply after the early-morning announcements and never recovered, closing at 11,820.78 – down 117.3 points or 0.98%.
There were 95 decliners and 47 gainers over the whole market on strong volumes of 47.27 million share transactions worth $140.04m.
Spark was down 23c or 4.87% to $4.49 on trade worth $14.26m after reducing its full-year operating earnings (Ebitdai) guidance to $1.17-$1.21 billion, from $1.215-1.26b “as challenging trading conditions intensified in some parts of the business.”
Spark said IT revenue has been impacted by weaker demand in the enterprise and government market, which has reduced spending. While mobile service revenue and broadband performance remained in line with expectations, sales of mobile devices and accessories have softened.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
