NZ shares rally as economy edges out of recession

NZ shares rally as economy edges out of recession
Turnover was $130 million. (Image: Getty)
Paul McBeth
New Zealand shares rallied as data showed a swelling population helped drag the economy out of recession. The S&P/NZX 50 index rose 100.62 points, or 0.9%, to 11,771.81. Across the main board, 90 stocks gained, 45 fell and 46 were unchanged. Turnover was $130 million. Government data showed gross domestic product grew 0.2% in the March quarter, with primary production a tailwind for the economy. Still, strong migration underpinned overall spending and GDP shrank 0.3% on a per capita basis, its sixth quarterly contraction in a row....

More Markets

Expectations of rate cuts boost NZ sharemarket in light trade
Markets Market close

Expectations of rate cuts boost NZ sharemarket in light trade

There were 89 rises and 48 falls on the main board.

Smart CEO Anna Scott resigns
Markets

Smart CEO Anna Scott resigns

Anna Scott will take up her new role on October 1.

Fonterra’s NZ milk collections hit five-year high
Primary Sector

Fonterra’s NZ milk collections hit five-year high

The increased production comes as forecast milk prices point to record levels.