Relief rally sweeps NZ sharemarket

Thu, 28 Apr 2022

New Zealand shares followed US markets higher after a strong set of corporate earnings gave investors a confidence boost.The S&P/NZX 50 Index rose 148 points, or 1.3% percent, to 11,875.35. Turnover was $245 million.Positive earnings reports from global giants Microsoft and Visa helped US markets make a marginal gain overnight after falling between 4% and 13% in the past month.Oanda market analyst Jeffrey Halley said a late release from Facebook parent Meta sent US futures higher and boosted the Asian trading session.“That has been en...

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