Energy stocks lead the NZ sharemarket down

The S&P/NZX 50 Index is down 3% this year. (Image: Getty)

Fri, 10 Nov 2023

A softer New Zealand sharemarket closed the week with a half percent fall, dragged down by the big three energy stocks as long-term interest rates climbed back up.The S&P/NZX 50 Index fell sharply at the opening and finished at 11,140.4, down 57.25 points or 0.51%. The index was slightly ahead for the week thanks to the 1.3% surge on Monday and has now fallen less than 3% so far this year.There were 46 gainers and 74 decliners over the whole market on very light trading of 22.42 million shares worth $49.38m.Shane Solly, portfolio manager wi...

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