Infratil surge pushes NZX to new record

Wed, 09 Dec 2020

New Zealand’s benchmark equity index hit a new record as Infratil shares surged following revelations overnight that a major Australian pension fund was bidding to buy the firm.The S&P/NZX 50 Index rose 169.81 points, or 1.3 percent, to an all-time high of 12,889.40. Within the index, 31 stocks rose, 13 fell and six were unchanged. Turnover was $219.9 million.Infrastructure investment firm Infratil drove the market higher, leaping 19.2 percent to hit its own record at $7.25. This came as investors rushed to buy the stock on the news A...

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