MARKET CLOSE: NZX50 delivers 12% gain in March quarter as low rates spur demand for yield

Fri, 29 Mar 2019

By Paul McBeth March 29 (BusinessDesk) - The S&P/NZX 50 Index climbed almost 12 percent to end the March quarter at a record, as a late tailwind from the Reserve Bank's bias towards lower rates spurred demand for companies with reliable dividends such as Meridian Energy and Genesis Energy. The benchmark index rose 78.76 points, or 0.8 percent, to 9,844.95. Within the index, 37 gained, nine fell, and four were unchanged. Turnover was $136.1 million. Reserve Bank governor Adrian Orr this week indicated the next move for the official cas...

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