MARKET CLOSE: Equity rally stalls as caution returns

Thu, 15 Oct 2020

New Zealand shares snapped an 11-day streak of gains as investors took some risk off the table due to fading hopes for fiscal stimulus in the United States and growing covid-19 infections in Europe. The S&P/NZX 50 Index fell 56.88 points, or 0.5 percent, to 12,486.73. Within the index, 24 stocks fell, 16 rose and 10 were unchanged. Turnover was $164.5 million.A return to caution in global markets ended the NZX 50’s near-record run of 11 days of consecutive gains as wary investors sold down positions in some stocks.A new covid ou...

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