NZ sharemarket rises as US debt issues sorted

NZ sharemarket rises as US debt issues sorted
The passage of laws sorting out the US debt ceiling issue perked up local investors. (Image: Getty)
Graham Skellern
A re-energised New Zealand sharemarket staged a strong rebound, driven by the two biggest stocks, as the deal on United States’ debt ceiling was sorted.The House of Representatives passed a bill to suspend the country’s US$31.4 trillion (NZ$52.2t) debt limit, through to January 2025, after the United States markets had closed.Instead, the Asia- Pacific markets surged. After strong afternoon trading, the S&P/NZX 50 Index closed at 11,916.13, up 103.12 points or 0.87%.There were 46 gainers and 79 decliners on the main board with 3...

More Markets

NZ sharemarket up 0.4% after a2 Milk surge
Markets Market Close

NZ sharemarket up 0.4% after a2 Milk surge

The S&P/NZX 50 Index closed at 12,266.25, gaining 57.2 points or 0.47%.

Graham Skellern 14 Mar 2025
Goldman Sachs downgrades Fletcher Building to sell
Markets

Goldman Sachs downgrades Fletcher Building to sell

Goldman Sach analysts have a 12-month target price of A$2.85 ($3.14).

Rebecca Howard 14 Mar 2025
Rayonier exits NZ with $1.2b forestry sale
Primary Sector

Rayonier exits NZ with $1.2b forestry sale

An investment firm bought the stake, which included 116,145 hectares of forestry.

John Anthony 14 Mar 2025
NZME board told 'compromise or be rolled'
Markets

NZME board told 'compromise or be rolled'

Minority shareholders are falling in behind billionaire Jim Grenon's board coup.