Market close: NZ stocks drift as company results fail to inspire
It was another topsy-turvy day for the NZ sharemarket.
It was another topsy-turvy day for the NZ sharemarket.
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The latest reporting season was met with light trading.
A softer New Zealand sharemarket closed the week with a half per cent fall.
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New Zealand stocks lose some of Monday's gains, driven by weaker banking stocks.
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New Zealand stocks remained boxed in by high interest rates and modest earnings growth.
Since June 30, Fisher & Paykel Healthcare's stock has fallen by 14 per cent.
The S&P/NZX50 index was at 11,135.58, down 85.90 points or 0.77 per cent.
The S&P/NZX 50 Index edged up 0.06 per cent.
The market didn't experience the jump that investors thought after the election result.
Relative underperformance of share price put down to usage of fossil fuels.
The transport company was now considering 'applicable emission targets for the group'.
The S&P/NZX 50 Index rose 13.1 points, or 0.12 per cent.
International funds coming in helped propel the local market.
It was a slow day for the market with light volumes traded.
No reason for optimism as we enter 'bear killer' month.
More light will be shed on the state of play with cash-strapped Synlait Milk on Monday.
Cheese and protein portfolios propel surge in Fonterra profit.
Fewer fish dying prematurely, company says turnaround gaining steam.
A2 Milk wants to cancel Synlait’s exclusive milk formula production and supply deal.
The NZX50 dropped 12 per cent last year and is on track for another down year.
Yesterday's half a per cent gain is all but forgotten.
The S&P/NZX 50 Index traded steadily, closing slightly lower for the day.