Investors focused on inflation as shares meander
The S&P/NZX 50 Index was up 13.36 points or 0.11% to 11,930.86, helped by a late surge in the end-of-day matching session. The index had earlier fallen to an intraday low of 11,880 points.
There were 74 gainers and 59 decliners over the whole market on a volume of 37.8 million shares worth $120.04 million.
A cooling United States inflation rate had little impact on the local market which is awaiting next week’s release of NZ’s March consumer price index (CPI).
The US March CPI increased by 0.1% and inflation is now running at 5% – slightly better than the economists’ predictions of 0.2% and 5.1%. It was the slowest pick-up in prices in nearly two years.
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