Recovery rally on NZX as Ryman bounces back

By Paul McBeth | Tue, 24 Mar 2020


New Zealand shares bounced back from yesterday’s sharp selloff with Ryman Healthcare leading the way in afternoon trading as it pulled its earnings guidance and said construction will be suspended through the national lockdown. The S&P/NZX50 Index rose 408.03 points, or 4.8 percent, to 8,906.73 by 2:15pm in Wellington, unwinding some of yesterday’s 7.6 percent slump when Prime Minister Jacinda Ardern announced a national lockdown from midnight tomorrow. The kiwi dollar was also stronger, at 57.73 US cents by 2:45pm from 56.38 at 5pm yesterda...