NZ shares up with inflation 'not too hot'

The year’s sole IPO, My Food Bag Group dropped to another new low and is now trading at $1.11 having fallen 2.6% today.

Mon, 13 Dec 2021

News that inflation is on the rise in the United States did not dampen the local sharemarket with investors feeling the result was not as bad as it could have been.The S&P/NZX 50 Index jumped 145 points, or 1.1%, to 12,994.19. Turnover was $229 million.Markets across Asia were up on Monday as investors reacted to the consumer price index released on Friday night in the United States.Greg Smith, head of retail at Devon Funds, said the inflation number was “not but not too hot” coming in at 6.8% year-on-year as expected.“Inv...

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