yield

Our sharemarket took a reasonable fall yesterday but resisted the larger declines seen offshore.

The benchmark NZX-50 index was down 32 points and ended at 2762 following a 10-point rise on Monday.

It seems the gloomy comments from the World Bank, which said the outlook for the global economy remained “unusually uncertain” as it cut 2009 growth forecasts for most economies had its effect on investor sentiment.

A day like yesterday saw some biggish falls for some good companies including some of my favorites for uncertain times.

When things get a little tough or investor sentiment turns sour companies like …{+}

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Portfolio Addition

June 22, 2009 By

The NZ Dollar was trading at US63.10c at 8am today, down from US63.95c at 5pm yesterday as the World Bank said prospects for the global economy remain “unusually uncertain,” and cut its 2009 growth forecasts for most economies causing the markets to swing against the risk of investing in higher-yielding currencies.

Yesterday the benchmark NZX-50 index closed up 10 points, (approximately or 0.3 percent) at 2794. Turnover was worth $68 million however nearly $20m of that was traded in Telecom and Fletcher Building.

It’s been a few days since I have added anything to my portfolio however today I am liking the look the Dollar against our major partners and what this might mean for some of our stocks while they are weak.

…{+}

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