NZ shares rise on further hopes inflation tamed

The NZX followed Wall St where there is renewed belief that inflation is being beaten down. (Image: Getty)

Wed, 15 Nov 2023

The New Zealand sharemarket surged more than one and a half percent following a strong day on Wall St, where there is a renewed belief that inflation is being beaten down.The S&P/NZX 50 Index powered up from the opening and closed at 11,352.84, rising 179.56 points or 1.61% on broad-based buying. There were 101 gainers and 40 decliners over the whole market on increased volumes of 34.75 million share transactions worth $125.62m.Greg Smith, head of retail with Devon Funds Management, said the catalyst was the soft United States consume...

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