MARKET CLOSE: NZ shares snap six-day retreat as central banks begin to act

Tue, 03 Mar 2020

New Zealand shares bounced back from a six-day downturn as investors found hope in speculation central banks around the world may be planning to coordinate an economic response to the coronavirus outbreak. The S&P/NZX 50 Index gained 242.88 points, or 2.2 percent, to 11,346.31. Within the index, 41 stocks rose, seven fell, and two remained unchanged. Turnover was $228.7 million. Markets had been shaken by the continued spread of covid-19 and its impact on global growth, but sentiment turned positive after the US Federal Reserve, the Bank...

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