NZ sharemarket up nearly 0.5%, third rise this week

(Image: Getty)

Thu, 16 Jan 2025

The New Zealand sharemarket posted its third successive rise of nearly 0.5% following a strong rally in the United States on softer-than-expected inflation data and improved earnings from leading banks.The S&P/NZX 50 Index broke through the 13,000 mark again after gaining 56.99 points or 0.44% to 13,000.56. The index reached an intraday low of 12,910.29.Volumes were steady, with 22.9 million shares worth $98.56m changing hands.Food inflationary pressuresGreg Smith, head of retail with Devon Funds Management, said the local market was in a l...

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