Wary investors keep the NZ sharemarket flat

The S&P/NZX 50 Index’s routine didn’t surprise, falling in the morning and recovering in the afternoon to close at 11,943.2, up 6.58 points or 0.06%.

The index reached an intraday low of 11,906.83 points and was flat for the week.

There were 69 gainers and 55 decliners over the whole market on volumes of 25.59 million share transactions worth $90.03m.

Shane Solly, portfolio manager with Harbour Asset Management, said: “We are seeing some pretty wary markets. There was some mixed company reporting in the United States overnight, the Chinese economic stimulus is more measured than expected, and bond yields keep going up.”