NZX50 jumps 3.5%; investors buoyed by rate cut prospect

NZX50 jumps 3.5%; investors buoyed by rate cut prospect
Rebecca Howard
The S&P/NZX 50 Index jumped more than 3.5 percent in the first hour of trading as the prospect of combined stimulus from a range of central banks cheered investors and attracted bargain hunters after a savage sell-off during the past week. “The buyers are back in force after a pretty impressive rally on Wall Street,” said Hamilton Hindin Green director Grant Williamson. “It’s a rather amazing turnaround.”The three main indices on Wall Street all ended close to 5 percent higher and the NZX50 was up 3.7 percent, or 411.88 points, at 11,5...

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