Photo / FileThere was plenty of action involving the New Zealand sharemarket, but in the end it fell one per cent, weighed down by mixed company results, rising wholesale interest rates and a strong NZ dollar. The S&P/NZX 50 Index was down 122.39 points or 0.98 per cent to 12,426.24 after reaching an intraday high of 12,588.38. There were 54 gainers and 90 decliners over the whole market on strong trading of 50.86 million shares worth $191.55 million. "With bond yields rising so sharply, it's not a great surprise that the market has fallen," said Matt Goodson, managing director of Salt Funds Management. Skellerup surged 35c or 8.33 per cent to $4.55, and Pacific Edge climbed 7c or 6.93 per cent to $1.08.

Source: New Zealand Herald February 22, 2021 05:03 UTC