NZ shares rise as bond yields ease

Air New Zealand led the market higher, climbing 3.5% to $1.645.

Wed, 10 Mar 2021

Most New Zealand shares rose as bond yields fell from an 18-month high giving equity markets some more room to run. The S&P/NZX 50 Index rose 106.75 points, or 0.9%, to 12,251.9. Within the index, 25 stocks rose, 20 fell, and five were unchanged. Turnover was $168 million.Peter McIntyre, an investment advisor at Craigs Investment Partners, said the rising long term bond yields had been causing “havoc” and prompting rotation away from high priced stocks. Today, the yield on a 10-year government bond fell to 1.8% having...

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