MARKET CLOSE: NZ shares rise as vaccine news spurs optimism

Thu, 02 Jul 2020

New Zealand shares rose as promising results from a covid-19 vaccine trial spurred optimistic investors to take positions in riskier stocks. Kathmandu Holdings led the market higher. The S&P/NZX 50 Index advanced 152.25 points, or 1.3 percent, to 11,502.52. Within the index, 33 stocks rose, 12 fell, and five unchanged. Turnover was $156 million. Markets across Asia followed Wall Street higher as investors became optimistic after positive news about a potential vaccine for covid-19 emerged overnight. Stephen Innes, chief global market s...

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