NZ sharemarket closes the week flat

The S&P/NZX50 Index recovered admirably from its intraday low of 11,408.25 and finished at 11,495.64, down 0.97 points or 0.01%.

The index is still 0.3% ahead for the year after gaining 1% this week.

There were 57 gainers and 61 decliners over the whole market, with rebalancing in the FTSE and NZX indices creating some volatility before next Friday's deadline. A total of 25.85 million shares worth $104.17m changed hands.

SkyCity Entertainment Group declined 8c or 4.28% to $1.79 after revising its guidance following five months of trading in the new financial year.