NZ shares seesaw and investors buy bonds

Brent crude oil rose above US$100 a barrel and was traded almost 10% higher today. (Image: Getty)

Wed, 02 Mar 2022

New Zealand's sharemarket rally stalled today as investors, particularly in Europe, sold stocks and bought government bondsThe S&P/NZX 50 Index fell 110 points, or 0.9%, to 12,088.75. Turnover was $165 million.Michael McCarthy, chief strategy officer at Tiger Brokers Australia, said investors were reacting to the uncertainty created by the conflict between Russia and Ukraine.The disruption within the two commodity-producing nations will add to inflationary pressures and sanctions are likely to slow European growth.“Despite these o...

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