NZX 50 dips towards technical correction

Sanford led the market lower after being fined in court for illegal fishing practices.

Tue, 23 Feb 2021

New Zealand's main share index fell as a handful of discouraging trading updates from listed companies dovetailed with higher bond yields to depress equity prices.Fishery firm Sanford led the market lower after being fined in court for illegal fishing practices. The S&P/NZX 50 Index fell 37.40 points, or 0.3%, to 12,388.84. Within the index, 24 stocks fell, 20 rose and six were unchanged. Turnover was $198.3 million.Today’s decline brings the benchmark equity index more than 9% below its Jan 8 record — a technica...

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