NZ sharemarket down 0.77% for the week
The S&P/NZX 50 Index did have a late rally in the matching session and closed at 12,012.24, down 23.02 points or 0.19%. The index fell 0.77% in the shortened week.
There were 89 decliners and 46 gainers on the main board, with 28.16 million shares worth $81.81m changing hands.
Shane Solly, portfolio manager with Harbour Asset Management, said the markets were unsettled by the increased tension between Iran and Israel and the prospect that interest rate cuts in the United States may be later than expected, if not at all this year.
“We had a buyer’s strike on our market with investors unwilling to add to their positions. But the likes of Contact, Fisher and Paykel Healthcare, and Spark held up well, which was good to see, while other parts of the market were weak,” Solly said.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
