NZ sharemarket rallies strongly after four days of falls

It was the second-biggest single-day rise this year. (Image: NZME)

Thu, 26 Sep 2024

The New Zealand sharemarket surged more than 2% with renewed buying in blue-chip stocks on a day retailing icon The Warehouse reported one of its most challenging annual results.The S&P/NZX 50 Index traded strongly in the afternoon and closed at 12,491.58, gaining 267.05 points or 2.18% and snapping four successive days of falls.It was the second-biggest single-day rise this year after the index rose 2.68% to 11,867.29 on May 31.Trading was again heavy on volumes of 48 million shares worth $167.49m.Greg Smith, head of retail with Devon Fund...

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