MARKET CLOSE: NZ shares rally on government support package

Tue, 24 Mar 2020

The New Zealand share market rallied on news government is expanding its business support package and as the US Federal Reserve announced it will take extreme measures to offset the global downturn. The S&P/NZX50 rose 610.45 points, or 7.2 percent, to 9,109.15. Within the index, 39 stocks rose, seven fell and four were unchanged. Turnover was $250 million. Stocks climbed back from the previous session’s slide as investors tried to find an equilibrium between opportunity and risk in unprecedented economic conditions, said Peter McIntyre, a...

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