Sharemarket droops after budget revealed

Grant Robertson's latest budget deflated the sharemarket. (Image: Getty)

Thu, 18 May 2023

The New Zealand sharemarket dipped when finance minister Grant Robertson announced more spending and borrowing than expected in his latest budget.The S&P/NZX 50 Index was trading strongly until the early afternoon budget presentation and then lost more than half its gains to close at 11,976.08, increasing 24.42 points or 0.2%.The index earlier broke through the 12,000 points mark for the first time in six weeks with an intraday high of 12,039.26.There were 74 gainers and 53 decliners on the main board with 45.39 million shares worth $198.77...

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