Market ends week down but Briscoe shares up despite lower earnings guidance
The S&P/NZX 50 Index rose in the morning on Friday to 12,968.52 but fell in the afternoon and closed at 12,895.98, down 47.76 points or 0.37% on reasonable volumes of 18.34 million shares worth $81.3m.
The index has fallen 1.5% at the start of the new year after gaining 11.4% in 2024.
Shane Solly, portfolio manager with Harbour Asset Management, said critical economic data is coming up in the United States: the non-farm payrolls and consumer price index, as well as president-elect Donald Trump's inauguration and a meeting of the Federal Reserve.
“Investors are wary and standing off, so the markets are choppy on light volumes. The markets are waiting to see whether the data takes the heat off and the Federal Reserve continues to cut interest rates,” Solly said.
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