NZ shares rise as Fletcher Building hikes forecast

Wed, 16 Feb 2022

Fletcher Building led the local market higher after beating earnings expectations, while global indices rallied on the perception Russia may be walking back its Ukraine threat.The S&P/NZX 50 Index rose 183 points, or 1.5%, to 12,121.65. Turnover was $115 million.Shares markets around the world had generally moved higher over the past 24 hours as investors welcomed “cooling geopolitical tensions,” said Tina Teng, a CMC Markets analyst.The US dollar weakened with investors sensing less risk of fallout from the crisis, which h...

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