NZ sharemarket drifts down ahead of reporting season

(Image: Getty)

Thu, 08 Feb 2024

The New Zealand sharemarket went against offshore trends and fell more than a half percent, dragged down by a clump of blue-chip stocks.The S&P/NZX 50 Index drifted all day and closed at 11,872.33, down 79.84 points or 0.67%.There were 58 gainers and 76 decliners on the main board, with 29.4 million shares worth $108.6m changing hands.Jeremy Sullivan, investment advisor with Hamilton Hindin Greene, said the S&P 500 in the United States is heading for a record close, but it was very quiet on the local market.“I think investors are...

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