NZ sharemarket slides as investors digest fast food results

Fast food shares are proving to be difficult to swallow for investors. (Image: Restaurant Brand)

Tue, 08 Aug 2023

The New Zealand sharemarket slipped more than half a percent despite a rebound on Wall Street, with fast food operator Restaurant Brands continuing to slide.The S&P/NZX 50 Index held its ground in the morning but then steadily declined to close at 11,868.75, down 65.49 points or 0.55%. The index has risen 3.6% so far this year.There were 46 gainers and 89 decliners over the whole market, with 32.57 million shares worth $117.55m changing hands.Greg Main, a Jarden Wealth Management adviser, said investors were taking a cautious stance on the...

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