NZ sharemarket rallies on index changes, confidence survey

NZ sharemarket rallies on index changes, confidence survey
NZ shares ended firmer after the Bank of Japan cut its official interest rate. (Image: Getty)
Jamie Gray
New Zealand share prices rallied after a raft of index changes for key stocks, and a strong business confidence survey helped boost sentiment.The S&P/NZX 50 Index gained 76.63 points (0.58%) to 13,333.40 after being up by almost 100 points at one stage.Turnover was heavy with 105.6 million shares, worth $370.2m trading, reflecting funds re-weighting their portfolios in line with index changes.There were 85 rises and 55 falls on the main board.Japan pushes rates upAs expected, the Bank of Japan (BoJ) raised short-term interest rates to their...

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