NZ shares fall in shadow of Nvidia result

The NZ sharemarket was down today as the local earnings season continued to weigh on prices. (Image: Getty)

Thu, 29 Aug 2024

New Zealand shares joined a global selloff as investors were disappointed by Nvidia’s strong result in the US, while more weak earnings at home added to the sombre mood.The S&P/NZX 50 Index dropped 116.99 points, or 0.9%, to 12,353.61. Across the main board, 101 stocks fell, 37 rose, and 41 were unchanged. Turnover was $123.9 million, with 11 companies trading on volumes of more than a million shares.Stock markets across Asia fell after chipmaker Nvidia’s more than doubling of sales and earnings in the June quarter failed to ins...

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