The New Zealand sharemarket was weighed down by weakness in the energy and property sectors while offshore investors were more hopeful that the banking sector had settled.

New Zealand joined other Asia Pacific markets with a sharp fall of nearly 1.5%, as the latest banking developments and support failed to calm investors’ nerves.

The New Zealand sharemarket ended a roller-coaster week with a small gain, but Synlait Milk slumped after significantly downgrading its earnings forecast.

The New Zealand sharemarket’s nerves were soothed by a bumper profit from Fonterra and a new $1.6 billion takeover bid for Pushpay following another offshore banking scare and looming recession at home.

Retailer Briscoe Group brought some joy to the New Zealand share market, with record annual earnings, but investors remained wary following the bank failures in the United States.

The shockwaves from the Silicon Valley Bank collapse are still being felt across markets, with New Zealand’s benchmark index being dragged lower on dour investor sentiment.

New Zealand and other offshore sharemarkets rallied after United States regulators took quick action to stem a widespread banking crisis.

The New Zealand sharemarket ended a volatile week with a near 1% fall as the prospect of more interest rate rises to combat inflation reared up and unsettled investors.

New Zealand’s market was quiet like the ocean before a storm today as investors wait for looming US jobs data out tomorrow.

The fight against inflation is far from over. Global sharemarkets, including New Zealand’s, sold off sharply after the United States Federal Reserve indicated interest rates may need to go higher for longer.

Car dealer Turners Automotive shrugged off any slowdown in the economy with an earnings upgrade while the New Zealand sharemarket remained sluggish following a busy results season.

The storms that hit Hawkes Bay might have subsided, but the silt is still there and so is the backlog of work for advisers in the region.

Church donations software company Pushpay fell a further 6% as the New Zealand sharemarket failed to take the bait from strong offshore leads in Australia and the United States.

The local index was mostly flat as it went into the weekend, with earnings season pretty much over and investors now turning their gaze to the wider macro conditions.

New Zealand’s local index was down for most of the day with some of its heavyweight stocks sliding before the market managed to make a slight comeback by early evening.

New Zealand’s market was largely flat today as the local index absorbed information from the earnings season coming to a close.