NZ sharemarket reaches 29-month high

The previous best close was 12,413.05 points on Feb 10, 2022. (Image: Getty)

Wed, 17 Jul 2024

The New Zealand sharemarket pushed to a 29-month high as inflation fell significantly, raising hopes that early interest rate cuts were on their way.The S&P/NZX 50 Index soon picked up from an early-morning fall and closed at 12,292.03, up 107.54 points or 0.88% after reaching an intraday low of 12,159.72. The previous best close was 12,413.05 points on Feb 10, 2022.There were 91 gainers and 46 decliners over the whole market on volumes of 26.47 million share transactions worth $101.11m.The June consumer price index (CPI) showed annual infl...

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