Sharemarket flat as Mainfreight slips
The S&P/NZX 50 Index fell sharply to 11,902.01 in the morning on the back of weak offshore markets, but recovered its losses in the afternoon to close reasonably flat at 11,959.85 – down 11.98 points or 0.1%.
There was an even mix of 63 gainers and 64 decliners over the whole market on volume of 24.68 million share transactions worth $101.89m.
The Dow Jones Industrial Average fell for the fourth consecutive day, down 0.77% to 32,799.92 points, as negotiations so far have failed to reach a deal on the United States debt ceiling and increasing investors’ worries about a potential default.
The S&P 500 Index declined 0.73% to 4115.24 points, and Nasdaq Composite was down 0.61% to 12,484.16. Across the Tasman, the S&P/ASX 200 Index had fallen 1.07% to 7136.7 points at 6pm NZ time.
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