MARKET CLOSE: NZ shares gain; Wall Street rally brings out bargain hunters

MARKET CLOSE: NZ shares gain; Wall Street rally brings out bargain hunters
Paul McBeth
New Zealand shares rose for a second day as a strong rally on Wall Street brought out investors on the prowl for bargains. The S&P/NZX 50 Index advanced 155.23 points, or 1.7 percent to 9,264.38. Within the index, 46 stocks rose, and four fell. Turnover was $261 million. Equity markets around the world were buoyed by the prospect of a US$2 trillion stimulus package getting through deep divisions among US policymakers. The Dow Jones Industrial Average rose 11 percent overnight, and across Asia, Japan’s Topix was up 4.6 percent in afternoon...

More Markets

NZX 50 ends the week down 1.5% in flurry of index reweighting
Markets Market close

NZX 50 ends the week down 1.5% in flurry of index reweighting

The S&P/NZX 50 index dropped 89.42 points, or 0.8%, to 11,682.39.

Paul McBeth 21 Jun 2024
KMD Brands guidance undershoots analysts' forecasts
Retail

KMD Brands guidance undershoots analysts' forecasts

Group sales between February and May have fallen 8.4% year-on-year.

Analysts downgrade Channel Infrastructure
Infrastructure

Analysts downgrade Channel Infrastructure

The move follows BP's selling its stake.

Ian Llewellyn 21 Jun 2024
NZ shares rally as economy edges out of recession
Markets Market close

NZ shares rally as economy edges out of recession

The S&P/NZX 50 index rose 100.62 points, or 0.9%, to 11,771.81.

Paul McBeth 20 Jun 2024