{"id":16535,"date":"2025-09-11T19:27:11","date_gmt":"2025-09-11T19:27:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/16535\/"},"modified":"2025-09-11T19:27:11","modified_gmt":"2025-09-11T19:27:11","slug":"nz-sharemarket-closes-lower-as-tech-stocks-buoyed-by-oracle-update-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/16535\/","title":{"rendered":"NZ sharemarket closes lower as tech stocks buoyed by Oracle update \u2013 Market close"},"content":{"rendered":"

\u201cIt\u2019s really mixed here. Oracle\u2019s announcement<\/a> has obviously validated the tech side, but I suppose there\u2019s a lot of anticipation or probably even more relevance on what the US CPI [Consumers Price Index] does tonight for our market,\u201d Smith said.<\/p>\n

Infratil continued its positive momentum after news in the US of Oracle\u2019s projected cloud revenue, growing the importance of data centre infrastructure.<\/p>\n

Oracle\u2019s share price surged more than 36% following its update, forecasting US$18 billion ($30b) in FY2026, with cloud revenue rising to US$144b in five years.<\/p>\n

Infratil\u2019s share price rose 15c or 1.2% to $12.60 after 703,029 shares changed hands on turnover worth $8.8m.<\/p>\n

In other positive news, minor stock Scott Technology\u2019s share price rallied 15.38% to $2.25 after it outlined plans to double its revenue to $530m by 2030.<\/p>\n

Elsewhere, Spark released its new five-year business strategy, refocusing the business on its core of connectivity from a broader digital services ambition. <\/p>\n

The business also gave an update on the succession of chairwoman Justine Smyth, confirming she will stand for re-election at the upcoming annual meeting in November, with the intention to serve for a period of up to 12 months.<\/p>\n

Spark\u2019s share price fell 2.4% to $2.44 after 1.6 million shares changed hands on turnover worth $4m.<\/p>\n

Smith said there wasn\u2019t much in the announcement that would stand out to investors but suggested the previously announced sale of 75% of its data centre business could be giving away some potential upside.<\/p>\n

\u201cYou\u2019d have to think still that whilst it might be giving away some long-term upside to the data storage, the reality is building data centres is going to be expensive.\u201d<\/p>\n

Meanwhile, the share price for Fisher & Paykel Healthcare, the market\u2019s largest company, fell 23c or 0.6% to $38.20 after 435,453 shares changed hands on turnover worth $16.6m.<\/p>\n

Contact Energy shares also fell, dropping 14c to $9.21 on turnover worth $9.6m.<\/p>\n

The S&P 500 finished at a new record on Wednesday after a huge rally in Oracle shares as major US indices diverged before key consumer inflation data.<\/p>\n

Shares in Oracle surged more than 36% after the software giant projected huge revenue growth in the next few years as it prospers from the artificial intelligence investment boom.<\/p>\n

Those gains helped lift the S&P 500 by 0.3% to 6532.05, a second straight record.<\/p>\n

The tech-rich Nasdaq Composite Index edged up less than 0.1% to 21,886.06, also a record, while the Dow Jones Industrial Average dropped 0.5% to 45,490.92.<\/p>\n

US equities have been on a tear in recent sessions as markets anticipate a likely Federal Reserve interest rate cut next week amid signs of a weakening US employment market.<\/p>\n

Those expectations were reinforced by a surprise 0.1% decline in the producer price index in August, according to Government data. US consumer price data for the same period will be released Thursday.<\/p>\n

\u2013 Additional reporting AFP<\/p>\n

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cIt\u2019s really mixed here. Oracle\u2019s announcement has obviously validated the tech side, but I suppose there\u2019s a lot…\n","protected":false},"author":2,"featured_media":16536,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[806,682,18510,138,3595,1550,651,18509,3105,127,6097,13313,18511,2513,225,111,139,69,16782,2738,3333,1436,2122,1125,203,643,370,1865,1803,80],"class_list":["post-16535","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-as","tag-being","tag-buoyed","tag-business","tag-by","tag-centre","tag-close","tag-closes","tag-data","tag-despite","tag-down","tag-giant","tag-infratil","tag-lower","tag-market","tag-new-zealand","tag-newzealand","tag-nz","tag-oracle","tag-owner","tag-price","tag-rise","tag-share","tag-sharemarket","tag-sharp","tag-stocks","tag-tech","tag-today","tag-update","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/16535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=16535"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/16535\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/16536"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=16535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=16535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=16535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}