NZ sharemarket drifts lower amid sliding business confidence

There were 77 gainers and 53 decliners over the whole market. (Image: Getty)

Tue, 02 Jul 2024

The New Zealand sharemarket drifted lower as business confidence continues to slide and disinflation takes over.The S&P/NZX 50 Index was up and down all day and closed at 11,776.73, easing 12.65 points or 0.11% after reaching a high of 11,809.73 and a low of 11,748.63.There were 77 gainers and 53 decliners over the whole market on volumes of 31.38 million share transactions worth $110.46m.The NZIER’s June Quarterly Survey of Business Opinion showed a net 35% of firms expected a deterioration in the general economic outlook over the co...

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