NZ sharemarket edges lower early

The New Zealand sharemarket edged lower in its first few minutes of trading today, continuing on from nine consecutive trading days of losses.

Around 10.15am today the benchmark NZX-50 index was down 1.54 points to 3404.84, having fallen 3.2 points on Friday.

NZX was down 3c early to 227, Xero lost 3c to 212, Kathmandu dropped 2c to 213, and Telecom fell 1.5c to 247.

Mainfreight lifted 7c early to 1018, Scott Technology was up 4c to 132, Tower gained 2c to 149, and Ryman Healthcare added 2c to 268, while Fletcher Building was unchanged on 805.

In the United States on Friday (local time), Google's earnings, which beat the most bullish forecasts, drove the market higher.

The Dow Jones industrial average rose 0.34 percent to end at 12,479.73, the Standard & Poor's 500 Index gained 0.6 percent to finish at 1316.14, and the Nasdaq Composite Index advanced 1 percent to close at 2789.80.

For the week, the S&P 500 ended down 2.1 percent, while the Dow lost 1.4 percent and the Nasdaq fell 2.5 percent.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Kiwi Property Group Limited (NZX: KPG) Signs Sale and Purchase Agreement with IKEA
2nd December 2021 Morning Report
The New Zealand Refining Company Limited (NZX: NZR) Launches Share Purchase Plan
Seeka Limited (NZX: SEK) Confirms Market Guidance
Australia and New Zealand Banking Group Limited (NZX: ANZ) Acknowledges Class Action Proceedings
1st December 2021 Morning Report
Livestock Improvement Corporation Limited (NZX: LIC) Appoints New Chief Executive
30th November 2021 Morning Report
Serko Limited (NZX: SKO) Announces Opening of NZ$10 Million Retail Offer
Rua Bioscience Limited (NZX: RUA) Rua to Accelerate Growth with Proposed Acquisition of Zalm