MARKET CLOSE: Shares rise as investors seek yields

Wed, 24 Jun 2020

New Zealand shares rose, led by companies offering reliable dividends such as Stride Property, as the Reserve Bank reaffirmed its commitment to near-zero interest rates. A weaker currency also boosted the fortunes of exporters including Pushpay Holdings and A2 Milk. The S&P/NZX 50 Index advanced 126.83 points, or 1.1 percent, to 11,259.41. Within the index, 28 stocks rose, 18 fell, and four were unchanged. Turnover was $163.6 million. The Reserve Bank today kept the official cash rate at 0.25 percent and maintained the size of its quant...

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