It was back to the future for cancer diagnostic firm Pacific Edge after its price plunged more than 75% during a down day for the New Zealand sharemarket.

Ebos Group, A2 Milk, Synlait and Pacific Edge were the centre of attention with transformative developments, while the New Zealand sharemarket made a recovery after a midday slump.

Investors sat back and looked ahead to the King’s Birthday Weekend break as the New Zealand sharemarket drifted to a small loss.

A re-energised New Zealand sharemarket staged a strong rebound, driven by the two biggest stocks, as the deal on United States’ debt ceiling was sorted.

Nearly $1 billion worth of shares were traded in the May quarterly review of the MSCI global indices and the New Zealand sharemarket responded with a half percent fall.

The New Zealand sharemarket took a tumble in the last hour, falling nearly half a percent, as the latest reporting season featuring mixed financial results came to an end.

Fisher and Paykel Healthcare made a recovery and the New Zealand sharemarket surged nearly one percent on news that an agreement had been reached on the United States debt ceiling.

The weight of expectation pushed Fisher and Paykel Healthcare down more than 6% on the New Zealand sharemarket, which finished the week with a sharp 1% fall.

Star performer Mainfreight has consistently grown its earnings and dividends over the last 13 years but it took a tumble on the New Zealand sharemarket on a sombre outlook for the new financial year.

A surprised New Zealand sharemarket rallied nearly 1% after the Reserve Bank indicated it was done with raising interest rates.

The New Zealand sharemarket dipped nearly half a percent on the eve of the Reserve Bank of NZ’s latest interest rates move, and Infratil continues to set the pace among individual stocks.

Companies producing solid financial results – this time Gentrack – are being rewarded but the New Zealand sharemarket tumbled nearly 1% on interest rate worries.

The New Zealand sharemarket broke through the 12,000 points mark, with a 1% rise, spurred on by a solid earnings performance from a revitalised Ryman Healthcare.

The New Zealand sharemarket dipped when finance minister Grant Robertson announced more spending and borrowing than expected in his latest budget.

Retirement stocks have found a new lease of life and Serko surged on a better-than-expected annual result but the New Zealand sharemarket remained subdued.

The New Zealand sharemarket made a small gain but it presently lacks conviction and direction as worries over inflation and rising interest rates persist.