The New Zealand sharemarket was little changed today after a muted performance on Wall Street, as investors continued to assess the strength of its economic recovery.In New Zealand, an unexpectedly large rise in the unemployment rate to 6.8% in the June q
The New Zealand sharemarket was little changed today after a muted performance on Wall Street, as investors continued to assess the strength of its economic recovery.
In New Zealand, an unexpectedly large rise in the unemployment rate to 6.8% in the June quarter raised questions about the strength of the recovery here and led economists to call for a pause in the monetary policy tightening cycle begun in June.
The benchmark NZX-50 index closed up 6.534 points, or 0.2%, at 3044.668.
Telecom rose 1c to 202 after Standard and Poor's (S&P) reiterated the company's credit rating may be downgraded if it separated its network business.
Ebos rose 27c to 670 after announcing the sale of its scientific units and saying its annual result on August 26 would reflect another excellent trading year for the medical equipment supplier.
Fletcher Building fell 3c to 754. Steel & Tube rose 4c to 229, Rakon rose 4c to 110 and NZOG eased 1c at 121.
SkyCity rose 2c to 304 and Auckland Airport eased a cent to 198.
Contact Energy rose 3c to 569, Restaurant Brands rose 2c to 245, Tower rose 2c to 187, Infratil rose 1c to 163 and Cavalier Carpets 2c to 260.
Hallenstein Glasson fell 1c to 360, NZ Refining fell 8c to 300 and The Warehouse fell 2c to 352.
