Reserve Bank casts shadow over NZ sharemarket

Reserve Bank casts shadow over NZ sharemarket
The S&P/NZX 50 Index finished flat at 11,235.94, down 1.43 points or 0.01%. (Image: Getty)
Graham Skellern
The Reserve Bank of New Zealand put a big dampener on the NZ sharemarket with its higher-for-longer interest rates approach after Fisher and Paykel Healthcare lifted spirits with a pleasing half-year financial result.The S&P/NZX 50 Index surged more than 1.2% to an intraday high of 11,409.2 points during lunchtime at the peak of market heavyweight Fisher and Paykel’s trading.But the index came back to earth and finished flat at 11,235.94, down 1.43 points or 0.01%, following the Reserve Bank of NZ’s (RBNZ) latest monetary policy...

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