Steel & Tube dampens NZ sharemarket

Steel & Tube dampens NZ sharemarket
The NZ market fell on Friday after turnover worth $103 million. (Image: NZME)
Staff reporters
An earnings downgrade from Steel & Tube put a dampener on sharemarket sentiment after a mostly flat and directionless day’s trading.The S&P/NZX50 index closed at 11,864.89, down 7.75 points or 0.07%.Turnover, worth $103 million, was light.Of the 181 stocks traded, there were 42 rises and 81 falls.Topping the turnover list was retirement village company Ryman, with just over 2m shares, worth $14.2m, trading.Steel & Tube ended 2c (2%) down at 94c after issuing an 11-month update, which said it was performing well relative t...

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