Labour's big budget boosts sharemarket

Thu, 20 May 2021

NZ shares rose as the government revealed a budget that will send more fiscal stimulus flowing into an already improving economy via benefit increases and infrastructure investment. The S&P/NZX 50 Index rose 155.67 points, or 1.3%, to 12,437.17. Within the index, 21 stocks fell, 27 rose and two were unchanged. The index is still down 7% year-to-date. The Labour party’s newest budget cast an encouraging light on the economy with a pledge to spend an additional $8 billion to $12b on infrastructure and an extra $440 million per...

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