16 Apr 2013

Sharemarket bounces back

7:39 pm on 16 April 2013

The sharemarket has retraced earlier losses following a slew of bad news from overseas including plunging gold prices, disappointing Chinese economic news, and fatal explosions at the Boston Marathon.

The benchmark NZX 50 index fell more than 1% at one stage, before easing back just over half a percent to close at 4428.

Hamilton Hinden Greene's director, James Smalley, says investors took the opportunity to cash in on the recent surge on the stock market.