MARKET CLOSE: NZX50 hits record; buoyed by business confidence, M&A

By Paul McBeth | Thu, 28 Nov 2019


The S&P/NZX 50 Index hit a record as investor sentiment was buoyed by a recovery in the latest business confidence survey and a better than expected earnings season, and a growing appetite among private equity buyers to pursue mergers and acquisitions.  The benchmark index rose a high as 11,273.22, and ended the session at 11,207.29, up 86.48 points, or 0.8 percent. Within the index, 31 stocks rose, nine fell and 10 were unchanged. Turnover was $108.4 million.  Firms' expectations for both the general economy and their own trading improve...