Sharechat Logo

Quiet start on NZ sharemarket

NZPA

Thursday 21st July 2011

Text too small?

The New Zealand sharemarket started the day quietly, as investors continued to wait for a debt-limit deal in the United States.

Around 10.20am the benchmark NZX-50 index was down 2.17 points to 3406.2, after yesterday climbing 16.3 points.

Contact Energy was down 4c to 532, Fisher & Paykel Appliances lost 2c to 60, and Sky City dropped 2c to 355. Xero added 5c to 220 and Skellerup was up 2c to 128.

Telecom was unchanged at 255.5, with another key stock, Fletcher Building, also unchanged, at 812.

In the US, the stock market edged lower after yesterday's (local time) large gains.

Analysts said concerns about lifting the US government debt limit outweighed strong earnings from Apple and a slew of new corporate deals.

"In this environment, stringing together a few days like yesterday is going to be tough," said Brad Sorensen, director of market analysis at Charles Schwab.

The Dow Jones industrial average fell 0.1 percent to close at 12,571.91, the Standard & Poor's 500 Index dropped 0.1 percent to 1,325.84, and the Nasdaq Composite Index fell 0.4 percent to 2814.23.



  General Finance Advertising    

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.

Related News:

28th October 2021 Morning Report
Wellington Drive Technologies Limited (NZX: WDT) Performs Strongly in Q3-2021
Ryman Healthcare Limited (NZX: RYM) Acquires Extensions to Two Existing Victorian Sites
Promisia Healthcare Limited (NZX: PHL) Banking Covenant Update
Pictor Limited Announces Start of US Clinical Trials for SARS-CoV-2 Serology Test
Arvida Group Limited (NZX: ARV) Opening of Rights Offer
Move Logistics Group Limited (NZX: MOV) Announces $40m Capital Raise
27th October 2021 Morning Report
The a2 Milk Company Limited (NZX: ATM) Investor Day 2021
Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer