MARKET CLOSE: NZ shares slip on rising costs, dwindling business confidence

Tue, 02 Oct 2018

By Paul McBeth Oct. 2 (BusinessDesk) - New Zealand shares slipped as the weakest business confidence in nine years and fears over future profitability weighed on stocks linked to the local economic cycle. The S&P/NZX 50 edged down 0.68 of a point, or 0.01 percent, to 9,326.59. Within the index, 21 stocks fell, 18 gained and 11 were unchanged. Turnover was $137.9 million. The New Zealand Institute of Economic Research's quarterly survey of business opinion showed the worst economic confidence since March 2009, with firms experiencing...

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