Weak energy companies drag NZ sharemarket lower

Electricity companies shares went backwards. (Image: NZME)

Fri, 06 Oct 2023

Weakness in the big power companies helped drive the sharemarket lower while investors took to the sidelines in the leadup to the release of key United States labour data for September.The S&P/NZX50 index ended down 22.07 points, or 0.2% at 11,287.03 – well off its low for the day but still failing to build on Thursday’s 74-point rally.Turnover was very light at $65.4 million, and there were 58 gains and 68 falls on the main board.Harbour Asset Management portfolio manager Shane Solly said the market over the week had been on th...

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