NZ market falls, Fisher & Paykel Healthcare bolsters trading
The S&P/NZX 50 Index closed at 11,741.88, down 43.59 points or 0.37% following the deep dive in the end-of-day broker matching session.
The index reached an intraday high of 11,811.11 points. There were 50 gainers and 86 decliners over the whole market on 37.83 million share transactions worth $118.24m.
Jeremy Sullivan, investment adviser with Hamilton Hindin Greene, said the market was in a holding pattern awaiting the statement from the Federal Reserve, which is due Thursday morning (NZ time).
“Keeping the official rate unchanged will be no surprise, and the market is pricing in two rate cuts by the end of the year. Any divergence from that will materially move the markets,” he said.
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