The New Zealand sharemarket gave up ground on Wednesday as a number of market heavyweights lost some of their bounce. “I think everyone is waiting to see what is happening with this United States stimulus package,” said Greg Main, director of wealth management at Jarden. “The market is trading sideways in the short-term until we get some clarity on US stimulus measures,” Main said. Meridian Energy lost 2.4 per cent to $5.41 and fellow blue chip energy stock Contact Energy was down 0.1 per cent at $7.70. On the upside, Fisher & Paykel Healthcare continued to recover, up 2.4 per cent to $36.40, nearing its August high of $37.68.

Source: Stuff October 21, 2020 05:21 UTC