The decliners and gainers of the NZX50 in August: dairy and property get smashed

(Image: Getty)

Wed, 06 Sep 2023

Property and dairy stocks on the S&P/NZX 50 Index got a walloping during August due to higher interest rates and declining milk prices, while a busy earnings season wasn’t enough to stop the index ending the month in the red.The S&P/NZX 50 Index fell by almost 4.15% by the end of August, with 12 stocks rising and 38 stocks falling by various degrees.Peter McIntyre from Craigs Investment Partners said the higher interest rate environment had particularly hit property stocks.'Pressure on share prices'“Equity marke...

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