New Zealand shares close flat, Fed meeting in focus

Heartland group

14/06/2021 07:07

(Updates to close)
    June 14 (Reuters) - New Zealand shares closed flat on
Monday, as gains in utility and financial stocks were offset by
weakness in the healthcare sector, with investors awaiting a
meeting of the U.S. Federal Reserve later this week for cues on
its monetary policy.    
    The benchmark S&P/NZX 50 index  .NZ50  ticked up 0.09% to
finish the session at 12,562.17. Trading was thin as about 16.5
million shares changed hands, compared with the 30-day average
of 33.8 million shares.
    Banking services provider Heartland Group  HGH.NZ  was the
biggest gainer on the index, jumping over 6% to a more than
three-year high.
    Meanwhile, medical device maker Fisher & Paykel Healthcare
Corp  FPH.NZ  fell 2.6% to close at its lowest in over a week.
    The Fed will start its two-day meeting from Tuesday, with
many investors expecting the U.S. central bank to repeat its
dovish view.
    Markets in Australia were closed on Monday for a public
holiday.
 

 (Reporting by Soumyajit Saha in Bengaluru; Editing by Aditya
Soni)
 ((Soumyajit.Saha@thomsonreuters.com;))
 
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