Middle East conflict weighs on NZ sharemarket

NZX trading was overshadowed by conflict and interest rates. (Image: Getty)

Wed, 02 Oct 2024

The New Zealand sharemarket, trading flat, was overshadowed by uncertainty over the escalating conflict in the Middle East and the size of next week’s interest rate cut here.The S&P/NZX 50 Index followed Wall Street by falling in the morning but recovered in the afternoon to close at 12,451.69, down 15 points or 0.12%.Greg Smith, head of retail with Devon Funds Management, said there was an air of uncertainty about where the events in the Middle East will lead to. And there was an air of expectation about the Reserve Bank’s offi...

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