NZ shares extend decline as earnings underline shaky economy

The S&P/NZX 50 Index declined 33.62 points, or 0.3%, to 12,469.35. Across the main board, 54 stocks fell, 84 rose, and 41 were unchanged. Turnover was $109.8 million, with ten companies trading on volumes of more than a million shares. 

The upcoming speech from US Federal Reserve chair Jerome Powell on Friday at the global central banker symposium in Jackson Hole, Wyoming, remained front of mind for investors as they pondered how quickly interest rates would be cut. 

Local stocks

Meanwhile, the local earnings season kicked up a gear with SkyCity, Genesis Energy, Auckland International Airport and Seeka reporting on Thursday and continuing the volatility in results.