NZ sharemarket up on economic recovery news

(Image: Getty)

Tue, 14 Jan 2025

The New Zealand sharemarket bounced back from three successive down days as the latest data showed the economy is slowly recovering, prompting renewed hope of a 0.5% cut in the official cash rate next month.The S&P/NZX 50 Index picked up after a morning fall to 12,795.82 and closed at 12,884.38, up 57.05 points or 0.44%. Trading was slightly improved, with 23.36 million shares worth $86.16m changing hands.Inflation reports Jeremy Sullivan, investment adviser with Hamilton Hindin Greene, said: “We saw a rally in the latter stages...

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