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Market close: NZ sharemarket snaps eight-day losing streak
17 May, 2021 05:53 AM
4 minutes to read
Restaurant Brands surged 60c or 4.51 per cent to $13.90. Photo / Dean Purcell
NZ Herald
By: Graham Skellern
The lagging New Zealand sharemarket snapped an eight-day losing streak with a small but significant gain – but global marketer a2 Milk continued its slump. The S&P/NZX 50 Index raced ahead to an intraday high of 12,442.65 by lunchtime but then steadied and closed at 12,410.47, up 42.61 points or 0.34 per cent.
There were 71 gainers and 68 decliners over the whole market on light trading of 33.9 million shares worth $105.15 million.
Greg Smith, head of research with Fat Prophets, said the market had a bit of a relief bounce after the weakness last week. The inflationary concerns aren t going away, and it s a case of the market acclimatising to the prospect of a higher inflation rate and higher interest rates down the track.
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St. Augustine performer Jeanetta Salyer marches to the beat of her own drum. As the bandleader of Ramona + The Riot, a 7- to 11-piece music group that performs locally and regionally, she also runs her own business, Ancient City Entertainment scheduling musicians at area venues. This local entrepreneur is also the organizer of AS IF! The 90s Fest, a music festival and 90s-themed event on Saturday, May 15, at Francis Field in downtown St. Augustine. She currently sits on the board of Hopefull Handbags, a global organization started in St. Augustine that helps and supports those getting back on their feet from domestic abuse.
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