Market Close: Mainfreight holds the line as bond yields jump

Mainfreight said elevated demand may continue for the remainder of this financial year and into the next. (Photo: supplied)

Dan Brunskill

Thu, 11 Nov 2021

New Zealand's main share index was unchanged on Thursday as local bond yields hit new highs after US inflation data reached a 30-year high and sent market interest rates soaring.A majority of NZX-listed stocks fell with the high-interest rates eating into equity valuations, but a strong earnings result from Mainfreight kept the index fairly flat.The S&P/NZX 50 Index rose 4 points, virtually 0%, to 13,026.91. Turnover was $138 million.The US consumer price index shocked the market with another spike bringing the annual increase up to 6.2...

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