A bleak August for the sharemarket ends on a slight uplift

End of the month balancing resulted in $368.39m changing hands. (Image: Depositphotos)

Thu, 31 Aug 2023

The New Zealand sharemarket, unsettled by mixed company results, a slowing economy and election uncertainty, fell more than 4% in August – the worst trading month for over a year.The S&P/NZX 50 Index went as low as 11,455.71 in the morning before recovering strongly to close at 11,554.48, up 33.36 points or 0.29%. It meant the index was down nearly 4.15% for the month – the previous biggest slide was 3.9% in June last year.The session was extended for the quarterly rebalancing of the MSCI indices, and in the flurry of late tradi...

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