MARKET CLOSE: NZ shares rise as MSCI reweighting drives mammoth volume

By Paul McBeth | Tue, 26 Nov 2019


The S&P/NZX 50 Index rose back above 11,000 as the official MSCI New Zealand Index reweightings drove more than half a billion dollars of activity in the market's busiest day for almost a year-and-a-half. New Zealand’s benchmark index advanced 90.87 points, or 0.8 percent, to 11,044.54. Within the index, 37 stocks rose, 12 fell, and one was unchanged. Turnover was $626.2 million, with 116.4 million shares traded, the most since May 31, 2018. The volume was driven by the MSCI index reweighting, which added Mercury NZ to the benchmark track...