NZ sharemarket rallies on increasing business confidence

Struggling retailer Kathmandu led the market higher on Tuesday. (Image: NZME)

Tue, 01 Oct 2024

A more positive New Zealand sharemarket posted a healthy gain as two surveys showed business confidence is returning on the prospect of another interest rate cut next week.The S&P/NZX 50 Index traded strongly in the afternoon and closed at 12,466.69, up 42.87 points or 0.35% following two successive falls.On another heavy trading day, there were 48.5 million share transactions worth $173.76m.Sentiment rebounded 35 points to minus 5% in the NZ Institute of Economic Research (NZIER) third quarterly survey of business opinion. In ANZ&rsqu...

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