MARKET CLOSE: Shares bounce on big banks boost

Fri, 25 Sep 2020

Financial stocks led the local stock market higher as they surged on an announcement the Australian federal government would roll back responsible lending rules. The S&P/NZX 50 Index rose 107.19 points, or 0.9 percent, to 11,797.08. Within the index, 33 stocks rose, 10 fell and seven were unchanged. Turnover was $122.2 million.The local market got a kick from across the Tasman after the Morrison government announced it would scrap responsible lending laws, which put the onus on banks to ensure loans were serviceable. The Australia...

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Markets Market close

NZ sharemarket celebrates highest single-day rise in over five months

Graham Skellern 6:15pm

Politics

Media react to Melissa Lee sacking

The sector is keen to work with new minister Paul Goldsmith amid its financial crisis.

Daniel Dunkley 5:10pm

Politics

Govt reshuffle: Lee demoted, Simmonds loses portfolio

Melissa Lee has been stripped of her media and communications portfolio and dropped from the cabinet, prime minister Christopher Luxon announced today.He has given Paul Goldsmith the portfolio after Lee was widely criticised over her public handling of the numerous issues facing...

Staff reporters 1:20pm