US economic recovery boosts NZ shares

Fri, 30 Apr 2021

New Zealand shares followed US markets higher after better-than-expected earnings results by Apple and Facebook and strong economic data. The S&P/NZX 50 Index rose 15.93 points, or 0.2%, to 12,731.13. Within the index, 25 stocks rose, 21 fell and four were unchanged. Turnover was $171.9 million.Mark Smith, an economist at ASB Bank, said the combination of strong US data, the prospect of further stimulus and upbeat corporate earnings underpinned the broadly positive market sentiment.Data showed US gross domestic product surged by an ann...

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