Investors take an early long weekend as the NZX drifts

It seems stock investors had one eye on the King's Birthday long weekend as the market drifted on Friday. (Image: Getty)

Graham Skellern

Fri, 02 Jun 2023

Investors sat back and looked ahead to the King’s Birthday Weekend break as the New Zealand sharemarket drifted to a small loss.There was a moment when the S&P/NZX 50 Index rose sharply at lunchtime, reaching a high of 11,930.22. But the index sold off in the afternoon and closed at 11,880.9, down 35.22 points or 0.3%.The index was slightly ahead for the week and is up about 3.3% for the year so far.There were 75 gainers and 58 decliners on the main board with 26.29 million shares worth $104.36m changing hands.Shane Solly, portfolio m...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}