NZ sharemarket down, Oz and US stocks climb
After a solid morning, the S&P/NZX 50 Index slipped in the afternoon and closed at 11,746.66, down 44.26 points or 0.38%.
The index reached an intraday high of 11,8918.31 points. There was an even spread of 71 gainers and 67 decliners over the whole market on light trading of 27.66 million shares worth $77.91m.
Across the Tasman, the S&P/ASX 200 Index had risen 1.24% to a new high of 7,835.7 points at 6pm NZ time.
Greg Smith, head of retail with Devon Funds Management, said the local market was quite tepid and in need of a pep-up. It was waiting for the Reserve Bank meeting (next Wednesday) and its latest direction on monetary policy.
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