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

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...

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