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Shares rise as markets ignore ‘shocking’ inflation

Dan Brunskill
Fri, 11 Jun 2021

New Zealand shares and dollar moved higher as investors were unfazed by annual inflation in the United States hitting 5% in a data release overnight. The S&P/NZX 50 Index rose 32.38 points, or 0.3%, to 12,550.39. Within the index, 22 stocks fell, 22 rose and six were unchanged. Turnover was $163.8 million.BNZ interest rate strategist, Jason Wong said the market was “unperturbed by the shockingly high” consumer price index with the S&P 500 moving higher and market interest rates falling.The domestic rates market followed...

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