MARKET CLOSE: NZX 50 hits record on outlook for low interest rates; Pushpay, Scales gain

Thu, 10 May 2018

By Sophie Boot May 10 (BusinessDesk) - New Zealand shares rose to a record high, led by Pushpay Holdings and Scales Corp, after the Reserve Bank affirmed plans to keep interest rates low. Mercury New Zealand and Fletcher Building weakened. The S&P/NZX 50 Index rose 17.89 points, or 0.2 percent, to 8,637.72. Within the index, 29 stocks rose, 12 fell and nine were unchanged. Turnover was $130.5 million. This morning, new Reserve Bank governor Adrian Orr kept the official cash rate at 1.75 percent and said he expects to keep the OCR at "...

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