NZ sharemarket continues to slide
The S&P/NZX 50 Index recovered slightly in the afternoon and closed at 10,741.57, down 25.25 points or 0.23%.
The index has fallen in 10 of the last 12 trading days and is down more than 6.4% for the year.
There were 72 decliners and 50 gainers on the main board, and trading was again light, with 20.49 million shares worth $61.54m changing hands.
Jeremy Sullivan, investment advisor with Hamilton Hindin Greene, said the Israel-Hamas situation has created volatility in gold and oil prices, resulting in increasing inflation and interest rates, which are hurting the NZ market.
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