Cyclical stocks lift NZ sharemarket for second day

Volumes were strong, with 44.47 million share transactions worth $201.67m. (Image: Getty)

Thu, 27 Feb 2025

Cyclical stocks continued to recover on the back of an improving economy as the New Zealand sharemarket posted a further 0.7% gain.The S&P/NZX 50 Index traded strongly in the afternoon and closed at 12,540.87, up 88.41 points or 0.71% after reaching an intraday low of 12,417.17. The index has regained 1.89% in two trading days.Volumes were again strong with 44.47 million share transactions worth $201.67m.Shane Solly, portfolio manager with Harbour Asset Management, said: “We have had quite a sobering reporting season and we may have s...

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