Expectations of rate cuts boost NZ sharemarket in light trade

Skellerup, which may feel the ill wind of new US tariffs, fell 9c to $4.86. (Image: NZME)

Wed, 02 Jul 2025

Expectations of Reserve Bank cuts to the official cash rate later this year helped to drive the New Zealand sharemarket higher in a day of light trading.The S&P/NZX 50 closed 49.76 points or 0.4% up at 12,784.29, driven by the interest rate-sensitive stocks, with trading of 32.7 million shares, worth $111.7 million.There were 89 rises and 48 falls on the main board.In the United States, the S&P 500 edged back by 0.1% from Monday’s record close. The technology-dominated Nasdaq fell by 0.8%, part of which reflected a big fall in Tes...

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