NZ shares rally as retail data rebounds

Mon, 23 Nov 2020

Most New Zealand shares rose as local retail data showed the largest quarterly rise since 1995, with investors taking the rebounding sales as a sign of ongoing economic recovery.The S&P/NZX 50 Index added 58.93 points, or half a percent, to reach 12,501.74. Within the index, 33 stocks rose, 13 fell and four were unchanged. Turnover was $153.1 million.Stats NZ data showed a $1.8 billion increase in total retail sales in the September quarter on the same period last year, some of which investors are hoping ends up on Kathmandu’s bottom...

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