Positive earnings lift NZ sharemarket

My Food Bag successfully overcame significant challenges during the financial year. (Photo: Bex Stevenson)

Fri, 20 May 2022

Strong local earnings reports boosted New Zealand's benchmark equity index on Friday, even as global markets wobbled.The S&P/NZX 50 Index rose 60 points, or 0.5%, to 11,267.39. Turnover was $138 million.NZ had one of the few share markets moving higher on Friday as investors in other parts of the world continued to worry about the risk of a global recession.“Stocks and risk sentiment haven’t managed any sort of bounce from yesterday’s rout, and seem to be waiting for fresh direction,” said ASB economist Mike Jone...

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