MARKET CLOSE: Hot property market drives shares higher

Fri, 09 Oct 2020

New Zealand shares finished the week at an all-time high, led upwards by property and retirement stocks as central bank stimulus adds heat to the housing market. The S&P/NZX 50 Index rose 44.62 points, or 0.4 percent, to 12,280.54. Within the index, 28 stocks rose, 15 fell and seven were unchanged. Turnover was $136.5 million.The benchmark index is at a record high after gaining almost 4 percent across the past five days. Hopes of a trillion-dollar stimulus deal in the US and positive corporate news locally have been driving the u...

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