NZ sharemarket holds up despite Warehouse result

(Image: Getty)

Thu, 23 Mar 2023

The Warehouse Group plunged nearly 12% on a weak first-half result but the New Zealand sharemarket held up well in the face of further falls offshore.The S&P/NZX 50 Index bounced back from a lunchtime low of 11,481.08 and closed with a small gain of 8.01 points or 0.07% to 11,594.94.There were 47 gainers and 79 decliners on the main board with 34.42 million shares worth $105.71 million changing hands.The US Federal Reserve increased its rate 25 basis points, as expected, to a range of 4.75 to 5% and indicated there was just one more rate hi...

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