NZ sharemarket subdued as the bulls charge on Wall Street

The S&P/NZX 50 Index closed flat for the third successive day, gaining 12.43 points or 0.1% to 11,932.1. After a morning fall, the index bounced back at lunchtime and traded steadily during the afternoon.

There was an even mix of 67 gainers and 64 decliners over the whole market, with 22.96 million shares worth $95.3m changing hands.

Mark Lister, investment director with Craigs Investment Partners, said the local market is in a lull with all the latest economic and inflation data behind it and little corporate news till next month’s reporting season.

“There’s plenty of action happening overseas. We are more subdued than the United States because we don’t have their technology stocks but there is a flow-on effect,” said Lister.