NZ shares up in ‘mother of all reversals’

Fri, 25 Feb 2022

New Zealand shares bounced dramatically from Thursday’s selloff as investors speculated the worst economic sanctions had been taken off the table and markets had been oversold.The S&P/NZX 50 Index rose 190 points, or 1.6%, to 11,923.38. Turnover was $185 million.Only yesterday, Putin’s invasion triggered the biggest decline on the index since the covid crash in March 2020. Today, it recovered almost half of that decline.Stephen Innes, a managing partner at SPI Asset Management, said the “complete turnaround” in marke...

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