MARKET CLOSE: NZ shares rises as positive offshore leads spur buying

Fri, 11 Jan 2019

By Rebecca Howard Jan. 11 (BusinessDesk) - New Zealand shares rose as investors were cheered when US Federal Reserve Chairman Jerome Powell reiterated the US central bank can be patient on raising interest rates further. The S&P/NZX 50 index rose 40.42 points, or 0.5 percent, to 8,959.58. Within the index, 31 stocks rose, seven were unchanged and 12 fell. Turnover was $61.1 million. Powell told the Economic Club of Washington DC the Fed can "watch patiently and carefully." His comments, coupled with other similar comments from Fed o...

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