MARKET CLOSE: NZ shares rise as MSCI reweighting drives mammoth volume

MARKET CLOSE: NZ shares rise as MSCI reweighting drives mammoth volume
Paul McBeth
The S&P/NZX 50 Index rose back above 11,000 as the official MSCI New Zealand Index reweightings drove more than half a billion dollars of activity in the market's busiest day for almost a year-and-a-half. New Zealand’s benchmark index advanced 90.87 points, or 0.8 percent, to 11,044.54. Within the index, 37 stocks rose, 12 fell, and one was unchanged. Turnover was $626.2 million, with 116.4 million shares traded, the most since May 31, 2018. The volume was driven by the MSCI index reweighting, which added Mercury NZ to the benchmark track...

More Markets

The change of heart behind Arvida’s US private equity buyout
Property

The change of heart behind Arvida’s US private equity buyout

The company’s share price rose 55% after the announcement.

NZ dollar at 11-week low on pending rate cuts, Biden's exit
Economy

NZ dollar at 11-week low on pending rate cuts, Biden's exit

The kiwi was trading below 60 US cents late Monday in Wellington. 

NZ sharemarket down 0.1% amid takeovers
Markets Market close

NZ sharemarket down 0.1% amid takeovers

The S&P/NZX 50 Index closed at 12,309.91, down 15.7 points or 0.13%.

Graham Skellern 22 Jul 2024
Arvida shares up 55% after US private equity buyout news
Property

Arvida shares up 55% after US private equity buyout news

The scheme is unanimously supported by Arvida's board.

Gregor Thompson 22 Jul 2024