NZ sharemarket lifts on budget cuts and US news

NZ sharemarket lifts on budget cuts and US news
Investors in NZ were soothed by the messages from the US Federal Reserve. (Image: Getty)
Graham Skellern
The government’s $4 billion cost-cutting move and a passive speech from the United States Federal Reserve governor underpinned a firmer tone on the New Zealand sharemarket.The S&P/NZX 50 Index had a very steady afternoon and closed at 11,479.01, up 11.35 points or 0.10%.There were 60 gainers and 70 decliners over the whole market on volumes of 38.35 million share transactions worth $112.67m. The trading was dominated by Smartshares NZ Cash Exchange Traded Fund, with 17.55m units worth $53.02m changing hands.Over the weekend, US Federa...

More Markets

NZ sharemarket down 1.5% for week, 8.4% for year
Markets Market Close

NZ sharemarket down 1.5% for week, 8.4% for year

"We may have seen the worst of the tariff announcements ..."

Graham Skellern 11 Apr 2025
Asian markets fall as Trump acknowledges costs
Markets

Asian markets fall as Trump acknowledges costs

In early trade in Asia on Friday, Japan's Nikkei tumbled more than 5%.

AFP 11 Apr 2025
Ebos gets 'strong support' for $217m raise
Markets

Ebos gets 'strong support' for $217m raise

The new shares will be priced at $36.65.

Tech stocks tumble as US-China trade war worsens
Markets

Tech stocks tumble as US-China trade war worsens

The S&P 500 fell nearly 6% by early afternoon Thursday in the US.