F&P Healthcare pulls NZX 50 lower

The S&P/NZX 50 Index fell 95.07 points, or 0.8 percent, to 12,085.18. Within the index, 25 stocks fell, 18 rose and seven were unchanged. Turnover was $145 million.

The index has now been in decline for six consecutive weeks.

Ventilator humidifier manufacturer, F&P Healthcare closed down 4.2% at $27.34 after oscillating in a wide range – trading as high as $29.85 – throughout the day, despite there being no significant news. 

Matthew Goodson, a director at Salt Funds, said rising interest rates were still driving some stocks lower as signs of inflation began to appear.