Fonterra fund leads NZX 50 higher

The fund is in the twilight of its life as the cooperative is capping its numbers. (Photo: supplied)

Thu, 23 Sep 2021

New Zealand shares followed global markets higher led by the Fonterra shareholders’ fund after the cooperative announced a strategy reset that would return capital to investors. The S&P/NZX 50 Index rose 85.70 points, or 0.7%, to 13,305.92. Turnover was $162 million.Offshore markets were stronger overnight with investors reassured as Evergrande renegotiated a coupon payment with its bondholders and survived another day without insolvency.The People’s Bank of China also injected 90 billion yuan into the nation's banking...

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