NZ stocks fall on renewed Brexit uncertainty, dividend payouts
The S&P/NZX 50 index fell 16.19 points, or 0.2 percent, to 8,809.70. Within the index, 23 stocks fell, five were unchanged and 22 rose. Turnover was modest at $90.1 million.
US stocks rose as investors bet the risks of slower growth are fully priced in after five days of declines. The political fall-out increased in the UK from draft Brexit deal, while mixed signals continued on the prospects of meaningful trade talks between the US and China in Argentina at the end of the month.
The Dow Jones Industrial Average rose 0.8 percent and the S&P 500 Index rose 1.1 percent. In Australia, the S&P/ASX 200 index was recently up 0.3 percent.
Bryon Burke, head of equities at Craigs Investment Partners, said intra-day ranges in the US markets remain high and that is a sign of uncertainty.
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