NZ sharemarket slides 0.37%
The S&P/NZX 50 Index was on a gradual slide for most of the day and was again saved by a late rise in the matching session.
The index declined 44.49 points or 0.37% to 11,829.18 – its second successive fall this week. There were 55 gainers and 78 decliners over the whole market on volumes of 26.53 million share transactions worth $96.43m.
All eyes are on the United States February consumer price index (CPI) released overnight.
Paul Robertshawe, chief investment officer with Octagon Investment Funds, said it’s strange that people are buying perpetual investments on the sharemarket and they are worrying about a one-month CPI.
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