NZ sharemarket has biggest single-day rise in seven months
The S&P/NZX 50 Index took off at midday in tandem with the Australian market and closed at 11,728.06, up 202.18 points or 1.75%.
The previous gain of that size was 1.78% on Nov 2. There were 94 gainers and 37 decliners on the main board, with 38.61 million shares worth $135.04m changing hands.
Across the Tasman, the S&P/ASX 200 Index had also risen 1.75% to 7,889.4 points at 6pm NZ time.
Shane Solly, portfolio manager with Harbour Asset Management, said the broad-based rally showed how much had been stripped out of the local market – with many leading stocks rising.
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