NZ sharemarket down 1.6% for the week

(Image: Getty)

Fri, 19 Jan 2024

The New Zealand sharemarket chalked up its fifth down day in a row – with retail jeweller Michael Hill providing a warning of a drop in earnings because of challenging trading conditions.The S&P/NZX 50 Index slipped in the afternoon and closed at 11,666.07, down 21.11 points or 0.18% after reaching an intraday high of 11,737.56.The index fell 1.6% for the week. There were 73 gainers and 51 decliners on the main board, with 34.2 million shares worth $101.2m changing hands.David McConnochie, investment adviser w...

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