MARKET CLOSE: Wall Street leads property stocks higher

Mon, 24 Aug 2020

New Zealand shares followed Wall Street higher after new data indicating an improving US economy pushed two of the major indices to a new record. The property sector drove local gains. The S&P/NZX 50 Index rose 85.13 points, or 0.7 percent, to 11,921.07. Within the index, 33 stocks rose, 12 fell and five were unchanged. Turnover was $152.7.8 million. The S&P 500 and Nasdaq both closed at record highs in the US on Friday after data showed some strength in the U.S. economy. Business activity returned to early 2019 levels in August and...

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