NZ sharemarket closes week down 0.38%
The S&P/NZX 50 Index had a rocky day, reaching an intraday high of 12,422.63 before closing at the day’s low of 12,349.47, a decline of 46.79 points or 0.38%.
The index was still 0.2% for the week. There were 82 gainers and 62 decliners over the whole market on volumes of 33.54 million share transactions worth $115.16m.
Mark Lister, investment director with Craigs Investment Partners, said given the volatility in the United States with the high-flying technology stocks selling off, the NZ market has put in a good performance.
“We have put together a string of nice gains – with increasing expectation that interest rate cuts are right on our doorstep.”
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