NZ shares up as labour data shows economy running hot

NZ shares up as labour data shows economy running hot
A2 Milk Company shares advanced 1.9% to $6.41. (Image: Supplied)
Dan Brunskill
New Zealand shares and the kiwi dollar climbed as the unemployment rate dropped to 4% in the June quarter, showing the economy is running well and ushering in the chance for more aggressive interest rate hikes.The S&P/NZX 50 Index rose 96.76 points, or 0.8%, to 12,797.29. Turnover was $198.8 million.Economists had been predicting a fall in the unemployment rate to somewhere between 4.4% and 4.7%, instead it dropped further surprising the market.The kiwi dollar climbed from 69.97 US cents yesterday to 70.58 cents after the announcement, but...

More Markets

Analysts struggle to find upside from Trump tariffs
Economy

Analysts struggle to find upside from Trump tariffs

‘They've forgotten the lessons of the Great Depression,’ one analyst said.