Shares rise as tough quarter ends

Wed, 31 Mar 2021

New Zealand's sharemarket was led up by Mercury NZ as investors begin to adjust to the higher bond yields which have been dominating the market this year.The S&P/NZX 50 Index rose 113.9 points, or 0.9% , to 12,560.7. Within the index, 36 stocks rose, 11 fell, and three were unchanged.Turnover was $320 million, higher than usual due to fund managers rebalancing their portfolios at the end of the first quarter.Greg Smith, head of research at Fat Prophets, said the market was having a “risk-on day” as investors became desensiti...

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