NZX50 continues its slow slide

Rising oil prices have stoked inflation fears. (Image: Getty)

Wed, 06 Sep 2023

The New Zealand sharemarket recorded its fourth fall in five trading days as the continuing rise in oil prices added fresh inflationary concerns.The S&P/NZX 50 Index again slipped from lunchtime but had a late recovery to close at 11,427.66, down 9.58 points or 0.08%.There were 67 gainers and 58 decliners over the whole market on volumes of 28.62 million share transactions worth $127.94m.Brent crude oil exceeded US$90 (NZ$152.50) a barrel before settling at US$86.30, still the highest level since November and unnerving offshore markets. The...

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