NZ sharemarket flat as earning season rolls on
The S&P/NZX 50 Index closed at 11730.88, down 9.931 points or 0.08%. There were 72 gainers and 71 decliners over the whole market on volumes of $32.6 million share transactions worth $105.8 m.
“[Monday] was another day in the red,” Forsyth Barr investment advisor David Price said, speaking to BusinessDesk just before the day’s close. “Volumes were all right, but there was not much green on the screen.” Investors are also awaiting this Wednesday's monetary policy decision by the Reserve Bank of NZ (RBNZ). The official cash rate (OCR) is currently at 5.50%, and while most economists expect it to remain on hold, at least two banks are predicting a 25 basis point rate hike to 5.75%.
Earnings season continues
The big gainer of the day was Summerset with its share price rising 3.44% to $11.12.
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