NZ market lifts after surprise CPI data

NZ market lifts after surprise CPI data
The S&P/NZX 50 Index rose 29.3 points, or 0.26%, to 11,214.37. (Image: Getty)
Ella Somers
New Zealand’s benchmark index edged up after consumer price index (CPI) data came in lower than most economists and the country’s central bank forecast.The S&P/NZX 50 Index rose 29.3 points, or 0.26%, to 11,214.37. Turnover was $119.7 million. There were 66 gainers and 49 decliners on the main board.The likelihood of the Reserve Bank of New Zealand (RBNZ) raising interest rates in November decreased significantly, falling from about 34% to just 10%, following the release of Tuesday's consumer price index (CPI) data. The...

More Markets

NZ sharemarket up as Trump eases tariff stance
Markets Market Close

NZ sharemarket up as Trump eases tariff stance

Investors heaved a sigh of relief as NZ shares responded to Trump's change of heart.

All is not necessarily lost for Pacific Edge – Forsyth Barr
Markets

All is not necessarily lost for Pacific Edge – Forsyth Barr

Pacific Edge shares fell 26% to 8.4 cents on Monday, but “all is not necessarily lost”, said Forsyth Barr analysts.A local coverage determination in the United States means the company will no longer receive reimbursement for its Cxbladder tests from Medicare. Centres for Medicar...

Fonterra's plans unchanged despite court ruling
Primary Sector

Fonterra's plans unchanged despite court ruling

Bega reiterates its interest in Oceania business. 

Rakon reveals Chinese customer dropped
Markets

Rakon reveals Chinese customer dropped

High-tech manufacturer also says it had more than one interested buyer for the business.