NZ sharemarket rallies with $670m turnover on index changes

NZ sharemarket rallies with $670m turnover on index changes
The S&P/NZX 50 Index closed at 11,330.2 up 94.26 points or 0.84%. (Image: NZME)
Graham Skellern
The New Zealand sharemarket staged a broad-based rally, gaining nearly one percent, following the Reserve Bank of NZ’s surprise forecast of an increased official cash rate the day before.The S&P/NZX 50 Index traded strongly in the afternoon in an extended session for the quarterly rebalancing of the MSCI global indices. The index closed at 11,330.2, up 94.26 points or 0.84%, after reaching an intraday low of 11,192.86 points.A massive 127.24 million shares worth $670.66m changed hands, with a2 Milk and Summerset Group dropping out of...

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