Market close: Property stocks tumble as bond yields rise
9 Mar, 2021 04:36 AM
4 minutes to read
NZ Herald
By: Graham Skellern
The interest rate sensitive property stocks tumbled on the back of rising bond yields but overall the New Zealand sharemarket steadied itself from recent falls and went the other way. The S&P/NZX 50 Index gained significantly in late trading, closing 59.96 points or 0.5 per cent ahead at 12,145.15 after reaching an intraday low of 12,057.9. There were 73 gainers and 68 decliners over the whole market with 66 million shares worth $211.2 million changing hands.
Matt Goodson, managing director of Salt Funds Management, said the market has a flighty and heavy feel about it. You are getting 3/4/5 per cent price movements for no obvious reason.
Market close: NZ sharemarket tipped into correction territory nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.
Investors pummel A2 Milk, pulling down sharemarket stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
Market close: Strong NZ dollar and mixed results weigh down sharemarket
22 Feb, 2021 04:43 AM
4 minutes to read
The travel stocks had a better day on the renewed hope of border re-openings. Photo / File
The travel stocks had a better day on the renewed hope of border re-openings. Photo / File
NZ Herald
By: Graham Skellern
There was plenty of action involving the New Zealand sharemarket, but in the end it fell one per cent, weighed down by mixed company results, rising wholesale interest rates and a strong NZ dollar. The S&P/NZX 50 Index was down 122.39 points or 0.98 per cent to 12,426.24 after reaching an intraday high of 12,588.38. There were 54 gainers and 90 decliners over the whole market on strong trading of 50.86 million shares worth $191.55 million.