NZ sharemarket worried by inflation and rising interest rates

(Image: Getty)

Tue, 16 May 2023

The New Zealand sharemarket made a small gain but it presently lacks conviction and direction as worries over inflation and rising interest rates persist.The S&P/NZX 50 Index fell to a morning low of 11,878.97 before recovering in the afternoon to close at 11,945.87, up 8.26 points or 0.07%.There were 63 gainers and 56 decliners over the whole market on a volume of 38.13 million share transactions worth $130.87m.Food price inflation climbed to 12.5% in April, up from 12.1% in March – the highest level since September 1989. Food prices...

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