NZ sharemarket: year's gains lost in single day

Fletcher Building went into a trading halt on a bumpy day for the NZ exchange.

Mon, 12 Feb 2024

It was confession day on the New Zealand sharemarket with earnings revisions, a civil legal proceeding and further uncertainty surrounding Fletcher Building, all adding to a near 1% fall.The S&P/NZX 50 Index tumbled all day and closed at 11,757.97, down 104.98 points or 0.88%, wiping out the gains for the year. The index started the week ahead by 0.8%.There were 50 gainers and 89 decliners over the whole market on light volumes of 20.25 million shares transactions worth $66.48m.Jeremy Sullivan, investment adviser with Hamilton Hindin Greene...

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