Musk’s Twitter buy boosts local tech stocks; Air NZ takes off

Elon Musk’s Twitter buy even made waves on the NZ stockmarket. (Image: Getty)

Tue, 05 Apr 2022

New Zealand's sharemarket rose as eccentric billionaire Elon Musk’s Twitter buy boosted demand for local tech stocks, while Air NZ’s tradeable rights took off.The S&P/NZX 50 Index rose 68.2 points, or 0.6%, 12,121.39. Turnover was moderate, with $124.6 million traded across the main board.Air NZ continued to dominate the headlines as investors struggled to get to grips with the $1.2 billion capital raising, prompting the stock market operator’s NZ RegCo arm to send out a note explaining the nature of the tradeable righ...

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