NZ sharemarket rocked by US inflation data

(Image: Getty)

Fri, 26 Apr 2024

The New Zealand sharemarket bore the brunt of hotter-than-expected inflation data in the US that saw bond yields rise and more angst over the timing of any interest rate cuts.The S&P/NZX 50 Index initially held up over the morning session but fell during the afternoon to close down 141.34 points, or 1.18%, at 11,805.There were 93 decliners and 42 gainers over the whole market on volumes of 27.52 million share transactions worth $111.78m.Harbour Asset Management portfolio manager Shane Solly said plenty of factors are in play with the local...

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