New Zealand shares fell as Fisher & Paykel Healthcare declined from high levels ahead of its full-year earnings result on Thursday.

New Zealand’s benchmark equity index edged lower as one of its 10 biggest stocks, Ryman Healthcare, shed $365 million from its market capitalisation following analyst downgrades.

The New Zealand market closed marginally higher as a2 Milk Company came roaring back from the depths of despair with a 6% bounce.

NZ shares rose as the government revealed a budget that will send more fiscal stimulus flowing into an already improving economy via benefit increases and infrastructure investment.

New Zealand shares fell as earnings results failed to impress investors worried about inflation. Serko led the decline after posting a near $30 million loss.

New Zealand shares edged higher as investors bid up stocks set to report earnings in the next few days with Serko leading the market higher.

New Zealand’s benchmark equity index crept higher as it moved on from a near two-month low on Friday after inflation fears weighed down the market.

The benchmark S&P/NZX 50 Index fell 2.8% this week as investors fretted over whether inflation pressures in the US will drive up interest rates, while the announcement of the new KiwiSaver default providers attracted local attention.

Unexpectedly strong US inflation sapped equity markets around the world as investors reassess whether interest rates will rise faster than they’d previously thought.

The malaise hitting global stock markets over potential inflation pressures weighed on New Zealand firms, with a slew of blue-chip stocks off the boil today.

A2 Milk led the local stock market lower for a second day as the milk marketing firm’s woes continued to drag down agricultural companies.

Dairy companies led the local stock market lower, with a2 Milk sinking to a three-and-a-half-year low after the milk marketing firm cut its earnings guidance yet again.

New Zealand’s main share index dipped slightly as investors continued to shun market heavyweights and decided Fonterra’s planned change to its capital structure will not work for them.

New Zealand shares sustained losses as investors pulled cash out of A2 Milk Company and Fisher & Paykel Healthcare.

New Zealand shares fell as Fisher & Paykel Healthcare dropped and global equity investors were spooked by the US treasury secretary raising the prospects of rate hikes.

A2 Milk and Synlait led the New Zealand share market higher as the two embattled dairy stocks mounted a small recovery after hitting four-year lows.