NZ market enjoys positive bounce amidst volatile day
The S&P/NZX 50 Index rose 88.3 points, or 0.8%, to 11,293.38. Turnover was $81.8 million. There were 77 gainers and 48 decliners on the main board.
Hamilton Hindin Greene’s Grant Davies said it had been a volatile day for NZ’s market thanks to flow-through from US markets which defied predictions and turned positive overnight while the Australian market also headed into positive territory.
“New Zealand investors are still a little bit cautious, but the international funds coming in have helped propel our market today,” he said.
Turners Automotive Group told the NZX on Tuesday that the company was heading for a record half-year result for the six months to Sep 30, and was predicting profit before tax of “at least” $25m.
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