NZ sharemarket makes gains despite headwinds
Apart from a lunchtime lull, the S&P/NZX 50 Index climbed strongly in the afternoon and closed at 11,934.67, up 20.78 points or 0.17% after falling more than 1% at one stage with an intraday low of 11,812.86.
The index gained 0.52% this week and is up 4.4% so far this year.
There were 83 decliners and 45 gainers over the whole market, with 36.2 million shares worth $111.93m changing hands.
Matt Goodson, managing director of Salt Funds Management, said the local market was surprisingly resilient in the context of weak leads from the United States and Australia, and the rising bond yields.
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