Dimming faith in interest rate cuts give NZ market the jitters

Oceania Healthcare was up 2c or 3.57% to 58c after reporting a 104% rise in net profit to $31.47m. (Image. NZME)

Fri, 24 May 2024

An uncertain New Zealand sharemarket followed a sharp fall on Wall Street, now losing faith in an early interest rate cut, with a small loss after a late recovery in the day. The S&P/NZX 50 Index was steady in the morning, down at lunchtime and up in the afternoon to close at 11,783.39, declining 26.09 points or 0.22%. The index ended the week ahead 0.7% and is now up 0.1% for the year. There were 98 decliners and 37 gainers on the main board with 33.53 million shares worth $118.53m changing hands. Paul Robertshawe, chief inv...

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