NZ sharemarket down 1.6% for the week
The S&P/NZX 50 Index slipped in the afternoon and closed at 11,666.07, down 21.11 points or 0.18% after reaching an intraday high of 11,737.56.
The index fell 1.6% for the week. There were 73 gainers and 51 decliners on the main board, with 34.2 million shares worth $101.2m changing hands.
David McConnochie, investment adviser with Forsyth Barr, said the local market has reflected the mixed performances overseas.
He said interest rates were still holding investors' attention – wholesale swap rates have crept up – and there is a stand-off between the markets and central banks over when they will start cutting official cash rates.
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