NZX 50 loses a week's gain in one day

Fears of how the US Fed will reaction to inflation was one factor weighing on NZ equities today. (Image: Getty)

Mon, 10 Jul 2023

The New Zealand sharemarket gave up all the strong gains made last week as it became preoccupied with the latest inflation moves here and overseas.The S&P/NZX 50 Index fell sharply at the opening and stayed low, closing down 67.38 points or 0.56% to 11,912.73 after increasing 0.52% last week while offshore markets fell.There were 52 gainers and 72 decliners on the main board, with 31.79 million shares worth $96.77m changing hands.Mark Lister, investment director with Craigs Investment Partners, said NZ bucked the trend last week with offsho...

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