NZ sharemarket has mixed trading day, Synlait tumbles further
The S&P/NZX 50 Index was up and down all day and traded within a range of 12,038.91 and 11,996.29 before closing at 12,035.26, down 5.23 points or 0.04%.
There were 71 gainers and 63 decliners over the whole market on volumes of 29.02 million share transactions worth $109.12m.
Wall Street was also mixed following Federal Reserve chair Jerome Powell’s wait-and-see speech at the Stanford Graduate School of Business.
Powell said the Fed has time to assess incoming economic data before starting interest rate cuts, which will likely come at some point this year. He said the strength of the economy gives the Fed flexibility.
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