MARKET CLOSE: NZ shares rise as investors look for safety

Fri, 17 Jul 2020

New Zealand shares rose as the local economy's relatively strong recovery from the covid-19 lockdown attracted investors keen to limit their exposure to the likes of Australia and the US, where the virus is spreading once more. The S&P/NZX 50 Index rose 78.99 points, or 0.7 percent, to 11,584.05. Within the index, 24 stocks rose, 19 fell, and seven were unchanged. Turnover was $150.2 million. Property stocks were among the stronger performers as investors sought the relative safety of tangible assets and reliable cash flow as new infecti...

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