30 Jan 2014

Sharemarket falls on US news

7:22 pm on 30 January 2014

The sharemarket reacted badly to news that the Reserve Bank left its key interest rate unchanged and the US Federal Reserve further reduced its money printing, with the NZX falling 32 points to 4849.

Craigs Investment Partners head of private wealth research Mark Lister says it's not surprising with weakness in markets overseas after the Federal Reserve's announcement.

Company listings

Mighty River shares have hit an all time low, after figures revealed it's losing market share and sales volumes are falling. Its shares closed down 1.5 cents to $1.945. The company listed on the market at $2.50

Shares in SLI Systems are up 3 percent to $2.67 after the company announced its expansion in Japan.

Briscoes says its annual sales rose 7 percent last year, and it's expecting a full year after tax profit of at least $33 million. Its shares are unchanged at $2.37.