MARKET CLOSE: NZ shares join global rally as Fed poised to keep rates low; Air NZ falls again

Thu, 31 Jan 2019

By Paul McBeth Jan. 31 (BusinessDesk) - New Zealand shares joined a global rally, led by A2 Milk Co, as local investors were buoyed the prospect of low US interest rates keeping equities attractive. Air New Zealand fell for another day. The S&P/NZX 50 index rose 59.82 points, or 0.7 percent, to 8,985.34. Within the index, 28 stocks gained, 15 fell, and seven were unchanged. Turnover was $132.7 million. Stocks across Asia followed Wall Street's lead after the Federal Reserve kept its benchmark rate unchanged and said it would be patie...

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