NZ sharemarket extends gain as Westpac kicks off bank reporting

NZ sharemarket extends gain as Westpac kicks off bank reporting
Wall Street's rally extended into Asia. (Image: Getty)
Staff reporters
New Zealand’s sharemarket extended its rally for a fifth day as dual-listed Westpac kicked off the bank reporting season with an increased dividend and a share buyback. The S&P/NZX 50 Index rose 142.3 points, or 1.3%, to 11,261.22, joining a rally that started on Friday when Wall Street gained on hopes the US Federal Reserve is done hiking interest rates after softer-than-expected employment figures. Of the 186 securities on NZX’s main board, 83 rose, and 56 fell on slightly lighter than usual turnover of $97.4 million.&ldq...

More Markets

NZ sharemarket drifts flat as Fed decision looms
Markets Market Close

NZ sharemarket drifts flat as Fed decision looms

The S&P/NZX 50 Index closed down 0.05% or 6.5 points.

If Māui closes, Methanex's future is murky says Fuge
Markets

If Māui closes, Methanex's future is murky says Fuge

A constant state of unease is needed in the energy sector says Contact boss.

Phasing out $6b capital layer unlikely to dent banks’ ratings
Finance

Phasing out $6b capital layer unlikely to dent banks’ ratings

Banks’ credit ratings likely unmoved if Additional Tier 1 capital phased out.