NZ sharemarket declines 0.8%, Spark reaches 14-year low

The New Zealand sharemarket fell 0.8% on Monday, with the S&P/NZX 50 Index closing at 12,166.14, down 100.11 points. This marks a decline of over 7% for the year. Telco Spark hit a 14-year low, dropping 4.63% to $2.06. It faced significant selling pressure due to weak financial results. In contrast, a2 Milk reached a four-year high, and Smartpay experienced two takeover bids, contributing to some positive movements in the market.