A much better day for NZ shares
The S&P/NZX 50 Index gained 20.47 points, or 0.2 percent, to 9,454.89. Within the index, 23 stocks fell, 21 rose, and six were unchanged. Turnover was $293.5 million.
This week governments across the world announced fiscal stimulus to curb a recession now considered imminent. US President Donald Trump's pursuit of a US$1 trillion package, which could include US$1,000 direct payments to individual Americans, helped Wall Street stage a recovery overnight.
Indices in the United States bounced back from their worst day since 1987. The S&P 500 rose 6 percent, the Dow Jones Industrial Average was up 5 percent and the Nasdaq gained 6.2 percent.
The local benchmark rose around 5 percent in morning trading, following the rally on Wall Street, before giving up some of those gains after the Australian market opened weaker. The S&P/ASX 200 Index was down 6.1 percent in afternoon trading.
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