NZ sharemarket down, Synlait reaches new all-time low
The S&P/NZX 50 Index fell at the opening after a mixed day on Wall Street and recovered gamely in the afternoon to close at 12,095.85, down 9.44 points or 0.08%.
There were 85 gainers and 62 decliners over the whole market on volumes of 25.99m share transactions worth $99.48m.
Matt Goodson, managing director of Salt Funds Management, said there were some interesting moves on the local market in the closing match on Thursday – “everywhere you looked" – and many of these stocks retraced to where they were before the madness at the quarter’s end.
Increased bond yields rattled the United States markets after the Core Personal Consumption Expenditures Price Index, the Federal Reserve’s preferred inflation gauge, increased 0.3% in February, down from 0.5% in January but higher than late last year. Consumer spending jumped 0.8%, ahead of the 0.5% estimate.
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