NZ sharemarket steadies after govt opens the books

The NZX50 had a bit of rollercoaster ride. (Image: Getty)

Tue, 12 Sep 2023

The New Zealand sharemarket steadied the ship after the Treasury’s pre-election economic update turned out to be not quite as gloomy as people expected.The S&P/NZX 50 Index was on a rollercoaster ride and reached an intraday low of 11,266.83 points before the announcement of the Prefu (pre-election economic and fiscal update).The index bounced back and ended its `thrilling’ ride at 11,298.7, down just 3.7 points or 0.03%. Still, it was the eighth successive fall by the index.There were 64 gainers and 60 decliners over the whole...

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