Ryman's $1 bill capital raise focuses market; Stocks down overall
The S&P/NZX 50 Index closed at 12,531.72, down 220.865 points or 1.73% on Monday. Across the whole market, there were 39 gainers and 99 decliners, with 34 million shares worth $146 million changing hands.
Since earnings season got into full swing on Monday last week, the index has fallen 4.1%.
Peter Sigley, director of institutional sales at Forsyth Barr, said while the headline figures look gloomy, it’s been a reporting season of outsized price reactions that make it appear worse.
“It's tending to be dragged down by single names [such as Spark's $1b valuation drop last week] rather than some sort of theme against the market," he said. "If anything, there's probably early signs of increased optimism towards the market.”
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)
