28 Apr 2014

Sharemarket falls in wake of global jitters

11:34 pm on 28 April 2014

The sharemarket fell on Monday, the benchmark Top 50 Index shedding 38 points, or 0.75 percent, to 5116.

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Photo: PHOTO NZ

An investment advisor at Forsyth Barr, Damien Kearns, says concerns about the situation in Ukraine have led to global markets declining and the New Zealand market has followed suit.

Mr Kearns says continued turmoil in tech stocks in the United States has also spilled over locally.

Xero shares fell $1.65 to $30.25, A2 milk shares dropped 6 cents to 78c but Goodman Fielder shares have risen 10c, or 18 percent, to 65c.

It has also been a quiet start to the week for the New Zealand dollar, although currency strategist at the Bank of New Zealand, Raiko Shareef, says that may change later in the week.

The New Zealand dollar is little changed against its major trading partners.

At 5.14pm on Monday it was trading at 86.8 US cents, 92.42 Australian cents, 51.10 British pence, 0.6205 euro, 87.63 yen and 5.35 renminbi.