Market ends week down but Briscoe shares up despite lower earnings guidance

The S&P/NZX 50 Index has fallen 1.5% since the beginning of the year. (Image: NZME)

Fri, 10 Jan 2025

Leading retailer Briscoe Group downgraded its annual earnings by 10% on “continued subdued trading” as the New Zealand sharemarket ended a quiet week with a small fall.The S&P/NZX 50 Index rose in the morning on Friday to 12,968.52 but fell in the afternoon and closed at 12,895.98, down 47.76 points or 0.37% on reasonable volumes of 18.34 million shares worth $81.3m.The index has fallen 1.5% at the start of the new year after gaining 11.4% in 2024.Shane Solly, portfolio manager with Harbour Asset Management, said critical econom...

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