NZ sharemarket extends gain as Westpac kicks off bank reporting

Wall Street's rally extended into Asia. (Image: Getty)

Mon, 06 Nov 2023

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...

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