Expectations of rate cuts boost NZ sharemarket in light trade

Expectations of rate cuts boost NZ sharemarket in light trade
Skellerup, which may feel the ill wind of new US tariffs, fell 9c to $4.86. (Image: NZME)
Jamie Gray
Expectations of Reserve Bank cuts to the official cash rate later this year helped to drive the New Zealand sharemarket higher in a day of light trading.The S&P/NZX 50 closed 49.76 points or 0.4% up at 12,784.29, driven by the interest rate-sensitive stocks, with trading of 32.7 million shares, worth $111.7 million.There were 89 rises and 48 falls on the main board.In the United States, the S&P 500 edged back by 0.1% from Monday’s record close. The technology-dominated Nasdaq fell by 0.8%, part of which reflected a big fall in Tes...

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Staff reporters 02 Jul 2025