NZ sharemarket bounces back after Fletcher Building recovery
The S&P/NZX 50 Index traded strongly in the afternoon and closed at 11,724.48, up 84.44 points or 0.73%.
The index finished the week shedding nearly 1.2%. There were 85 gainers and 51 decliners over the whole market on volumes of 26.85 million share transactions worth $109.73m.
Shane Solly, portfolio manager with Harbour Asset Management, said there was another twist from the Reserve Bank of NZ (RBNZ) with its refocus on fighting core inflation.
“The market is quite choppy at the moment, and some of the price movements are quite extreme. But there was some positive news from Infratil and Meridian,” he said.
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