Market responds to 'reporting season show and tell'

The index has fallen 2.84% in the past two trading days, wiping out a lot of the recent strong gains. (Image: Supplied)

Tue, 21 Feb 2023

The New Zealand sharemarket, now well into the reporting season, slipped nearly 1% as stock prices readjusted to earnings value based on their latest financial results.The S&P/NZX 50 index was trading steadily until a late afternoon fall and closed at 11,801.49, down 94.55 points or 0.79% after reaching an intraday high of 11,929.06.The index has fallen 2.84% in the past two trading days, wiping out a lot of the recent strong gains. The index has now gained 2.9% for the year, after earlier reaching 6%.There were 51 gainers and 77 decliners...

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