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Andrew Kelleher: Small recovery today won't save bad month for markets
Investors are picking the NZX sharemarket will rebound a little today but it's been a bad month
The NZX rose 1.4 percent on Friday, after its biggest single-day drop in years when it fell 3.64 percent on Thursday.
Wall St and the European markets picked up late Friday.
JMI Wealth's Andrew Kelleher told Mike Hosking any strengthening today doesn't nearly make up for a poor first fortnight in October.
"Of those 10 trading sessions, we had nine negative trading sessions in a row, so we fell 1.5 per cent the first week and 4 per cent last week, so that's a pretty soggy start to the third quarter for local investors."
LISTEN TO ANDREW KELLEHER TALK WITH MIKE HOSKING ABOVE
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By Newstalk ZBInvestors are picking the NZX sharemarket will rebound a little today but it's been a bad month
The NZX rose 1.4 percent on Friday, after its biggest single-day drop in years when it fell 3.64 percent on Thursday.
Wall St and the European markets picked up late Friday.
JMI Wealth's Andrew Kelleher told Mike Hosking any strengthening today doesn't nearly make up for a poor first fortnight in October.
"Of those 10 trading sessions, we had nine negative trading sessions in a row, so we fell 1.5 per cent the first week and 4 per cent last week, so that's a pretty soggy start to the third quarter for local investors."
LISTEN TO ANDREW KELLEHER TALK WITH MIKE HOSKING ABOVE