NZ sharemarket rallies, ends day up 0.6%

"Ripe for a rally." (Image: Getty)

Fri, 14 Feb 2025

The New Zealand sharemarket rallied as it looked ahead to a further economic boost from the Reserve Bank next week with an expected 0.5% cut in the official cash rate.The S&P/NZX 50 Index traded strongly in the afternoon after hitting a morning low of 12,894.56 and closed at 12,989.18, up 83.2 points or 0.64%.The index finished the week ahead by nearly 0.7%. Volumes were solid, with 33.37 million share transactions worth $138.9m.'Ripe for a rally'Shane Solly, portfolio manager with Harbour Asset Management, said the local marke...

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