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.

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