NZ sharemarket treads water as US equities march up

The S&P/NZX 50 Index traded flat for most of the day and then had a late rise to close at 11,889.63, up 33.02 points or 0.28%, after reaching an intraday low of 11,788.76.

There were 69 gainers and 57 decliners over the whole market on volumes of 27.78 million share transactions worth $98.81m.

Mark Lister, investment director with Craigs Investment Partners, said the local market is a little subdued and is not following the United States, which is hitting new highs.

“It’s the calm before the storm with our company reporting season kicking off next month. We will get real insights into how companies are faring with a swag of results – and then there will be more activity,” Lister said the local market would get an opportunity later in the year when interest rates start coming down, and investor sentiment turns to shares.