NZ sharemarket down after yesterday's gain
The S&P/NZX 50 Index trod softly and closed at 11,803.28, down 49.52 points or 0.42% after previously rising 0.48%.
There were 74 gainers and 61 decliners on the main board, with 29.19 million shares worth $95.67m changing hands.
Paul Robertshawe, chief investment officer with Octagon Asset Management, said the market was operating on heightened uncertainty with recent economic news supporting a weaker outlook.
“How long this will last, who knows. The latest Centrix data shows a few thousand more people in debt, and I read that 18% of disposable income is now going into mortgages,” he said.
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