Late turnaround for New Zealand sharemarket

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
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...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024