MARKET CLOSE: NZ shares surge as Trump puts stimulus back on table

Thu, 08 Oct 2020

New Zealand’s benchmark share index surged to a record as global risk appetite came flooding back on the hope of fiscal stimulus before the US election. The S&P/NZX 50 Index rose 219.77 points, or 1.8 percent, to an all-time high of 12,235.92. Within the index, 36 stocks rose, five fell and nine were unchanged. Turnover was $149.5 million.US shares lifted on Wednesday night as President Trump urged Congress to pass piecemeal fiscal support bills, despite calling off negotiations for a comprehensive stimulus bill the previous day....

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