Stock investors wait on monetary policy decisions

The sharemarket dipped as investors wait on the judgment of the Reserve Bank. (Image: Getty)

Tue, 23 May 2023

The New Zealand sharemarket dipped nearly half a percent on the eve of the Reserve Bank of NZ’s latest interest rates move, and Infratil continues to set the pace among individual stocks.The S&P/NZX 50 Index had a soft afternoon and fell 48.8 points or 0.41% to 11,944.2 as it waited for the Reserve Bank monetary policy statement, with an expected 25 basis points increase in the Official Cash Rate to 5.5%.There were 69 gainers and 58 decliners over the whole market on volume of 26.63 million shares worth $119.84m.Jeremy Sullivan, inves...

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Developer Kurt Gibbons buys Ryman’s Newtown site

The land was formerly the site of Wellington's Tip Top bread factory.

Gregor Thompson 10:30am

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