NZX Midday Sector Update: Communications Soar, Finance Struggles

MT Newswires Live

2025/03/07

Communications stocks gained the most on the New Zealand exchange, rising above 1% midday Friday.

Spark New Zealand (NZE:SPK) shares rose over 2% in recent Friday trade.

On the other hand, finance shares dropped 3% after The Australian Prudential Regulation Authority (APRA) unveiled eight proposals to bolster its governance standards and address "poor" practices within the banking and insurance industry, marking the regulator's first significant policy update in over a decade.

Westpac Banking (NZE:WBC, ASX:WBC) shares fell almost 3% in recent trade, reaching its lowest price since October 2024.

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