NZ sharemarket flat ahead of weekend
After a correction on Wall Street, the S&P/NZX 50 Index had an early-morning fall. However, there was a sharp rise in the end-of-day broker matching session, and the index closed at 12,261.23, down 3.84 points or 0.03%, after reaching an intraday low of 12,224.36.
The index was up nearly 1.5% for the week and has now gained more than 4.5% for the year.
There were 72 gainers and 68 decliners over the whole market on volumes of 40.2 million share transactions worth $150.93m. The trading was dominated by Contact Energy, down 12c to $8.57, with 3.82m shares worth $32.52m changing hands.
In the United States, the Dow Jones Industrial Average retreated from its high with a fall of 533 points or 1.29% to 40,665.02; the S&P 500 declined 0.78% to 5,544.59; and the Nasdaq Composite was down 0.7% to 17,871.22 as investors continued to move out of the Magnificent Seven tech stocks.
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)
