Middle East conflict casts a shadow across markets
The S&P/NZX 50 Index closed at 11,916.78, down 14.53 points or 0.12%, after reaching a morning low of 11,790.86 (or down 1%).
There were 93 decliners and 38 gainers over the whole market on light volumes of 32.77 million share transactions worth $85.98 million.
Jeremy Sullivan, investment adviser with Hamilton Hindin Greene, said the deterioration of conditions in the Middle East affected the markets but “confidence returned throughout the session in our market”.
“The [listed] Volatility Index in the United States increased more than 16% to a six-month high. We were the first market to open following the attack and there was no panic selling.
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