Market Close: Investor nerves steadied at Fletcher, Ebos AGMs

Solid outlooks from Fletcher Building and Ebos Group at their respective annual meetings helped steady New Zealand’s stock market after yesterday’s unexpectedly strong inflation data had traders pricing in more aggressive interest rate hikes.The S&P/NZX 50 Index rose 67.41 points, or 0.5%, to 13,065.92, with Fletcher among the most heavily traded with $15.8 million changing hands out of the main board’s $155.6m turnover.Fletcher shares rose 1.5% to $7.27 after hosting its annual meeting today, where the country’s big...