NZ shares shuffle sideways as investors rejig portfolios

Wed, 07 Jul 2021

New Zealand shares edged lower with investors trading highly priced stocks for those that haven’t had such strong gains as banks begin predicting interest rate rises in November. The S&P/NZX 50 Index fell 11.13 points, or 0.1%, to 12,747.80. Turnover was $149 million.Domestic logistics firm Freightways led the market lower as it fell 2.7% to $12.71. The stock hit a record yesterday having climbed more than 80% in the past 12 months. Goodman Property Trust units fell 2.4% to $2.40 having peaked at a nine-month high during a...

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