NZ sharemarket up 0.4% despite inflation report

NZ sharemarket up 0.4% despite inflation report
There were 77 gainers and 64 decliners. (Image: Getty)
Graham Skellern
The New Zealand sharemarket quickly recovered from the bogey of rising inflation and made a comfortable 0.5% gain to start the new trading week.The S&P/NZX 50 Index fell to a Monday morning low of 13,246.23 points when Stats NZ announced an inflation rate of 3% for the year ending September, up from 2.7% in the 12 months to the June quarter.But with economists expecting the inflation increase to be temporary, the index rebounded in the afternoon and closed at 13,344.96, up 55.75 points or 0.42%.There were 77 gainers and 64 decliners on the...

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