NZ shares gain on open border and cheaper oil

Wed, 16 Mar 2022

New Zealand shares climbed on Wednesday after the government announced an earlier partial border reopening and oil prices took another fall.The S&P/NZX 50 Index rose 72 points, or 0.6%, to 11,874.11. Turnover was $183 million.US equity markets rose more than 2% overnight as a further fall in oil prices encouraged investors to buy back risk assets.Jason Wong, a BNZ Bank strategist, said traders were likely expecting the covid-19 lockdown in China – the world’s largest oil importer – to result in less demand. “So...

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