Market Close: NZ shares slip as investors sell yield stocks

Fri, 08 Oct 2021

New Zealand's main share index fell slightly as investors sold interest-rate sensitive stocks and bought economically sensitive stocks. Meanwhile, BNZ abandoned predictions the NZ dollar would climb. The S&P/NZX 50 Index fell 18 points, or 0.1%, to 13,086.6. Turnover was $125 million. Analysis by Forsyth Barr today showed economically sensitive stocks had climbed 5% last month, dramatically outperforming the index.“Cyclicals provided a strong bounce during the month of September as the overall market benchmark index took...

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