MARKET OPEN: Ongoing rally likely to keep Kiwi investors buying

MARKET OPEN: Ongoing rally likely to keep Kiwi investors buying
Rebecca Howard
The local stock market and the kiwi dollar may continue to be benefit as optimism among investors about the  global economic recovery from covid-19 gathers further momentum. “Risk markets continue their eye-watering rally,” said ANZ Bank senior economist Liz Kendall. The kiwi dollar was trading at 64.37 US cents at 8am in Wellington versus 64.10 cents at 5pm yesterday as investors turn to risk assets - like the kiwi dollar and equities - as opposed to safe havens, like the greenback. “Most risk assets are on a bit of a tear at the mome...

More Markets

NZ sharemarket falls 1%
Markets Market close

NZ sharemarket falls 1%

The S&P/NZX 50 Index closed at 11,804.84, down 111.94 points or 0.94%.

Graham Skellern 16 Apr 2024
Fletcher subsidiary Easysteel looks to cut jobs
Markets

Fletcher subsidiary Easysteel looks to cut jobs

Workers left 'stunned' by company's restructuring proposal, First Union says.

Gregor Thompson 16 Apr 2024
Scott Tech revenue up but profit down
Markets

Scott Tech revenue up but profit down

Scott Technology’s profit fell 42% on one-off costs in the half year to Feb 29 2024, but revenue is up 11% to $141 million on the back of a company refocus.Scott specialises in automated and robotic manufacturing processes. It attributed its revenue growth to its Scott 2027 strat...

Staff reporters 16 Apr 2024
NZX in for a tongue-lashing at AGM
Markets

NZX in for a tongue-lashing at AGM

A proposed 38% increase in the pool for directors' fees is not universally applauded.

Pattrick Smellie 16 Apr 2024