NZ sharemarket makes gains despite headwinds

NZ investors were not put off by Wall Street worries or rising interest rates. (Image: DepositPhotos)

Fri, 07 Jul 2023

The New Zealand sharemarket showed resilience in the face of increased wholesale interest rates and a big fall in shares across the Tasman.Apart from a lunchtime lull, the S&P/NZX 50 Index climbed strongly in the afternoon and closed at 11,934.67, up 20.78 points or 0.17% after falling more than 1% at one stage with an intraday low of 11,812.86.The index gained 0.52% this week and is up 4.4% so far this year.There were 83 decliners and 45 gainers over the whole market, with 36.2 million shares worth $111.93m changing hands.Matt Goodson, man...

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