NZ sharemarket drifts as takeover bid rejected

The sharemarket moved sideways. (Image: Getty)

Tue, 18 Jul 2023

The New Zealand sharemarket drifted sideways in a quiet day’s trading, while small-cap stock Metro Performance Glass rejected a takeover bid by two prominent businessmen.The S&P/NZX 50 Index lacked conviction and closed at 11,932.81, down 6.1 points or 0.05% after reaching an intraday high of 11,944.35.There were 71 gainers and 58 decliners over the whole market on light volumes of 23.13 million share transactions worth $88.09m.Ryman Healthcare, down 1c to $6.94, dominated the trading with $14.38m worth of its shares changing hands.Ma...

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