NZ sharemarket flat amid international turmoil
The S&P/NZX 50 Index recovered from a morning fall to 12,043.18 and closed at 12,123.14, down 11.83 points or 0.10%.
There were 89 gainers and 52 decliners over the whole market on volumes of 39.01 million share transactions worth $92.26m.
Jeremy Sullivan, investment adviser with Hamilton Hindin Greene, said the profit-taking in Mainfreight and Infratil weighed the market down, with Mainfreight having risen 11.5% last week.
Global transport and logistics company Mainfreight declined $2.75 or 3.57% to $74.20. Utilities investor Infratil was down 24c or 2.19% to $10.73, and Sullivan said: “Some investors took opportunistic profit-taking following the company’s share offer at $10.15 – but it wasn’t huge.”
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