NZ sharemarket dips despite solid results
The S&P/NZX 50 Index never got into gear and closed at 11,443.5, down 34.47 points or 0.3%. The index finished the week with a decline of 1.23% and is down nearly 5% this month – the weakest since January last year. It is also flat for the year.
There were 82 decliners and 46 gainers on the main board, with 25.85 million shares worth $87.7m changing hands.
Mark Lister, investment director with Craigs Investment Partners, said there is definitely a downbeat tone to markets internationally, and New Zealand is no different.
“We haven’t seen too many terrible results, but there hasn’t been anything encouraging for the local market to latch onto. Managements are playing their cards close to their chests on outlook because of the economic uncertainty,” Lister said.
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