MARKET CLOSE: NZ shares join global rally as Fed set to pause rate hikes; Pushpay gains

Thu, 29 Nov 2018

By Paul McBeth Nov. 29 (BusinessDesk) - New Zealand shares joined a global rally after Federal Reserve chair Jerome Powell indicated an early pause to higher interest rates, stoking demand for growth stocks such as Pushpay Holdings. The S&P/NZX 50 index rose 80.92 points, or 0.9 percent, to 8,794.88. Within the index, 34 stocks gained, 10 fell, and six were unchanged. Turnover was $111.1 million. Pushpay led the index higher, up 5.3 percent to $3.39 on twice its average volume. Tech stocks were buoyed by Powell's comments last night...

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