NZ sharemarket starts the week on a positive note
The S&P/NZX 50 Index went as low as 11,906.98 in the morning but recovered well to break through the 12,000 mark and closed 77.79 points or 0.65% up at 12,018.23.
The index is now up 4.7% for the year.
As investors hung back for next month’s reporting season, trading was again light, with 24.07 million shares worth $80.45m changing hands. There were 94 gainers and 45 decliners over the whole market, but very few standouts.
Greg Smith, head of retail with Devon Funds Management, said there’s a waiting game on the market with the United States Federal Reserve and European and Japanese central banks meeting later this week.
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