Late turnaround for New Zealand sharemarket

Summerset Group reached a 16-month high after rising 28c or 2.6% to $11.05 following its strong fourth-quarter performance. (Image: Supplied)

Graham Skellern

Thu, 11 Jan 2024

Retirement village operator Summerset Group, gaining nearly 3%, led the way as the New Zealand sharemarket made a late turnaround.A choppy S&P/NZX 50 Index traded in negative territory for most of the day and then suddenly had a late rise to close at 11,803.02, up 33.62 points or 0.29% after hitting an intraday low of 11,736.02.There were 76 gainers and 53 decliners over the whole market on light volumes of 17.57 million share transactions worth $58.06 million.Holding patternGrant Davies, investment advisor with Hamilton Hindin Greene, said...

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