MARKET CLOSE: NZ shares rally on US stimulus; beat-up stocks recover

By Paul McBeth | Thu, 26 Mar 2020


New Zealand shares rose for a third day as the US$2 trillion stimulus package bolsters investor confidence that governments are throwing everything at the covid-19 pandemic. The S&P/NZX 50 Index increased 368.09 points, or 4 percent, to 9,632.47. Within the index, 43 stocks gained, six fell, and one was unchanged. Turnover was $210 million. US policymakers are finalising a massive bailout for the world’s biggest economy, providing support to businesses and workers as covid-19 spreads. Governments around the world have rolled out major pac...