Quiet start to NZ sharemarket's week, optimism for strong US earnings season
The S&P/NZX 50 Index had a sharp morning fall but recovered in the afternoon to close at 12,002.97, down 16.86 points or 0.14%. The index traded between 11,933.44 and 12,019.84.
There were 73 gainers and 61 decliners on the main board, with 39.69 million shares worth $110.96 million changing hands.
Jeremy Sullivan, an investment advisor with Hamilton Hindin Greene, said the latest United States earnings season is going better than many expected, especially in the technology sector.
“This optimism has flowed through the Australian and NZ market – but only in sentiment for us today,” Sullivan said. "People are eyeing the peak in inflation and we are starting to see inflows from investors who are looking further ahead and seeing good value in the market."
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