Eroad leads market lower as rising bond yields weigh

The S&P/NZX 50 Index fell 33.46 points, or 0.3%, to 10,960.62. (Image: Eroad)

Tue, 24 Oct 2023

Transport hardware and software company Eroad led the local share market lower as rising bond yields continue to weigh on the outlook for technology stocks.The S&P/NZX 50 Index fell 33.46 points, or 0.3%, to 10,960.62, extending its decline this year. Turnover was $128.8 million across the main board, with 87 stocks falling and 47 rising out of the 185 traded on the exchange.Eroad fell 6% to 63 cents, leading the benchmark index lower, with 240,000 shares changing hands. The price is still below the 70 cents in the recent $50m capital...

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