Hopes inflation tamed in Aust raises NZ sharemarket

Better than expected inflation figures in Australia gives NZ investors a boost. (Image: Getty)

Wed, 26 Jul 2023

The New Zealand sharemarket perked up after news that Australian inflation is falling faster than most commentators expected.The S&P/NZX 50 Index was trading at an intraday low of 11,930 points when it was announced that inflation across the Tasman was running at 6%, the same as NZ’s, and down from 7% in the previous quarter.The index closed 20.86 points or 0.17% ahead at 11,954.73, but investors are still hanging back. Trading volumes remain light, with 21.34 million shares worth $73.97m changing hands, and there were 76 gainers and...

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