NZ sharemarket bounces around as earnings season begins
The S&P/NZX 50 Index had an early rise but then bounced around to close at 11,739.68, down 18.29 points or 0.16%, after reaching an intraday high of 11,763.76.
There were 56 gainers and 78 decliners on the main board, with 21.87 million shares worth $80.97m changing hands.
Matt Goodson, managing director of Salt Funds Management, said the local market felt heavy – more sellers than buyers – before “we get into the meat of the results season.
“The economy has been pretty slow over the period of reporting for the companies, and to a degree, share prices have already been built into the market. It’s the outlooks that will matter,” Goodson said.
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