NZ sharemarket up 0.4% for second day on interest rate cut hopes

Volumes were strong with 36.11 million share transactions worth $176.43m. (Image: Getty)

Tue, 19 Nov 2024

A more confident New Zealand sharemarket reached its highest level in a month, posting its second successive gain of around 0.5%, on widely-held hopes of another big interest rate cut next week.The S&P/NZX 50 Index traded steadily and closed at 12,816.32, up 51.67 points or 0.4%. The index crept closer to the year’s high of 12,923.22 points set on Oct 21.Volumes were again strong with 36.11 million share transactions worth $176.43m, led by Infratil and Spark, which move in and out of the MSCI Global Index, respectively, this month.OCR...

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