MARKET CLOSE: NZ shares buoyed by RBA rate cut, US-China trade talks

Tue, 02 Jul 2019

By Paul McBeth July 2 (BusinessDesk) - New Zealand shares rose as lower interest rates across the Tasman and cooling trade tensions between the US and China buoyed investor sentiment, underpinning demand for yield stocks such as Property For Industry and Contact Energy. The S&P/NZX 50 Index increased 67.41 points, or 0.6 percent, to 10,531.94. Within the index, 27 stocks rose, 18 fell, and five were unchanged. Turnover was $103.9 million. The local market got a boost late in the day from the Reserve Bank of Australia cutting its targ...

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