5th day of falls on the sharemarket

New Zealand's headline share index fell for a fifth consecutive day as bond yields marched higher and electronic card spending was weaker than expected last month. 

The S&P/NZX 50 Index fell 23 points, or 0.2%, to 12,996.26. Turnover was $216 million. 

Retail electronic card spending rose just 0.9% in September, down 14.9% from last year, disappointing those who had been hoping for a post-lockdown bounce.

“There are tentative signs that there may be less impetus in the consumption recovery from lockdown this time around,” said ASB senior economist Mark Smith.