NZ sharemarket falls due to global inflation fears

There were 98 decliners and 34 gainers on the main board. (Image: Getty)

Wed, 01 May 2024

The New Zealand sharemarket followed sharp falls offshore on fresh investor concerns that the sticky inflation will delay interest rate cuts.The S&P/NZX 50 Index fell at the opening and then maintained a steady momentum to close at 11,867.58, down 89.92 points or 0.75%.There were 98 decliners and 34 gainers on the main board, with 27.67 million shares worth $87.94m changing hands. Matt Goodson, managing director of Salt Funds Management, said the markets are faced with the ongoing theme of inflationary pressures being slow to subside a...

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