MARKET OPEN: Fonterra announcement may temper lift in global sentiment

Thu, 21 May 2020

A lift on Wall Street may spur domestic investor appetite, although an announcement from Fonterra Dairy Cooperative on its forecast payment for the 2020-21 season could set the tone. The Dow Jones Industrial Average was up 1.5 percent at 8:20am in Wellington, while the S&P500 was up 1.7 percent and the Nasdaq was up 2.1 percent, all lifted by improving risk appetite as investors begin to bank on a recovery in the US. "Markets are being buoyed by policy support, with policymakers stressing that resources will be made available," said ANZ...

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