NZ sharemarket eases slightly in early trading
The New Zealand sharemarket eased slightly in early trading after Wall Street slipped on Wednesday.Trading was quiet ahead of the release of New Zealand second quarter gross domestic product figures.The benchmark NZX 50 index fell 3.133 points to 3233.23
The New Zealand sharemarket eased slightly in early trading after Wall Street slipped on Wednesday.
Trading was quiet ahead of the release of New Zealand second quarter gross domestic product figures.
The benchmark NZX 50 index fell 3.133 points to 3233.23 in early trading.
Port of Tauranga rose 5c to 685, Contact Energy rose 3c to 580 and ING Property rose 1c to 72.
Telecom was unchanged at 203 and Fletcher Building was unchanged at 860.
US stocks slipped on Wednesday, ending the Dow's five-day winning streak, following Adobe's discouraging revenue outlook and investors' disappointment over Microsoft's new dividend.
Investors also weighed the impact of the Federal Reserve's statement on Tuesday, which indicated the central bank was edging closer to pumping hundreds of billions of new dollars
into the sluggish economy.
Adobe Systems Inc slid 19 percent after the software company forecast lower-than-expected revenue, citing weak demand.
The Dow Jones industrial average dipped 21.72 points, or 0.20 percent, to 10,739.31. The Standard&Poor's 500 Index slipped 5.50 points, or 0.48 percent, to 1134.28. The Nasdaq Composite Index lost 14.80 points, or 0.63 percent, to 2334.55.
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.