NZX50 dips as investors wait on data
With the Australian market closed for King’s Birthday weekend, the S&P/NZX 50 Index was uninspired and closed at 11,615.55, down 74.79 points or 0.64%.
There were 47 gainers and 82 decliners over the whole market on volumes of 24.1 million share transactions worth $114.63m. Infratil, up 1c to $9.86, led the individual trading list with $33.9m worth of shares changing hands.
Paul Robertshawe, chief investment officer for Octagon Asset Management, said “the market felt very light with Aussie closed and some of the moves looked a bit over-sized, to me. It wasn’t a good guide for the rest of the week.”
Retail (electronic card) spending declined $113m or 1.7% in May compared with April – the first monthly fall since February. Westpac said the spending was weaker than expected and reinforced expectations for a downturn in domestic economic conditions over the coming months.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)
