Sharemarket up as rates take a hike

Thursday 9 September 2004

The sharemarket rose in early trading on the back of the widely-anticipated 25 basis point rate rise announced by the Reserve Bank at 9am this morning.

By The Landlord

At 10.10am today the benchmark NZSX-50 gross index was up 4.98 points at 2745.73, while the NZSX-All capital index was up 1.00 points at 913.77.

Telecom was unchanged at 571, but still managed to dominate the market with turnover worth $24.8 million.

Total market turnover by 10.10am today was worth $34.3 million. Just 56 stocks were traded in the time, with 14 rises and 9 falls.

Read More - Opens in a new window
Commenting is closed

Property News

Why the future is not bleak for the housing market

Uncertainty continues to cast its shadow over the housing market but economist Tony Alexander has put together a list of reasons which offset the negatives and mean the market remains well-supported.


$75m on offer for new developments

Auckland ’s long-term future is sound as well situated residential developments will always sell and demand for affordable housing remains strong, a leading non-bank property financier says.


Mortgage borrowing rebounds in May

New mortgage borrowing rose by roughly $1.6 billion in May as the property market showed signs of recovery from the Covid-19 lockdown.

Site by PHP Developer