NZ shares snap six-day decline

Shares in Port of Tauranga jumped 3.4% to $7.62 on its improved profits despite volatile cargo volumes and congestion issues at Port of Auckland.

Dan Brunskill

Fri, 26 Feb 2021

Many New Zealand shares bounced back from a six-day slump as investors began to see bargains in the depressed prices with the benchmark equity index down more than 7% this year. The S&P/NZX 50 Index rose 86.63 points, or 0.7%, to 12,227.29. Within the index, 25 stocks fell, 24 rose and one was unchanged. Turnover was $383 million.A raft of positive results from listed companies, in the past two weeks, have been overshadowed by rising interest rates which caused the share market to fall significantly. “It has been a reasonab...

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