Greg Main News Today

Edward Donald (Ed) Main, passed away peacefully on December 11, 2023, surrounded by his family.

A quiet market took in news that a couple more US Fed rate rises are on the cards in 2023.

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.

Meanwhile, a late recovery wasn't enough as the index finished the day lower.

The New Zealand sharemarket began the shortened week dragged down by top stock Fisher & Paykel Healthcare.

State of Michigan - Governor Jennifer M. Granholm on Thursday will be recognized by His Majesty King Carl XVI Gustaf with Sweden's Insignia of First Commander, Order of the Polar Star for her work in fostering relations between Michigan and Sweden to promote a clean energy economy.

Fisher & Paykel Healthcare slid 2.7 per cent to $34.55 on turnover valued at $23 million, adding to pressure on the index. That followed a sell-off in growth stocks in the United States after comments from US Treasury Secretary Janet Yellen about the need for rising interest rates. RICKY WILSON/Stuff “They seemed to be taken slightly out of context,” Main said. “I think everyone realises rates will rise as the economy improves and inflation goes up, it’s just a question of when but ...

However, rising yields remained a big factor and would continue to dominate sharemarkets through the year, Main said. As inflation rises, interest rates go up, giving investors an alternative to stocks as returns from money in the bank also rise. The market was not being decimated, “but we’re seeing some of the cream come off”, he said. LAWRENCE SMITH/Stuff The New Zealand sharemarket clawed back most of Monday’s losses with a 3.4 per cent jump in the price of Fisher & Paykel Healthca...

LAWRENCE SMITH/Stuff The New Zealand sharemarket spent the day in the red. Stocks that performed well on Thursday included Sky City, up 2.5 per cent to $3.21; Mainfreight, up 2.2 per cent to $68.60; Freightways, up 1.2 per cent to $10.98; and Fletcher Building, up 0.9 per cent to $6.60. “I’d tend to say those stocks are maybe reopening type stocks that aren’t overly interest-rate sensitive,” said Main. “Growth is coming through, people are looking forward to that reopening story.”...

The New Zealand sharemarket ended the week with a small slip as the flow of company reports paused.