The Markets
NZ sharemarket rises US Treasury yields drop
Thursday 5th of October 2023
The S&P/NZX50 index gained 74.05 points or 0.66% to 11,309.10 after being mostly flat early in the session.
Turnover was worth just $89.8 million, with 83 gains and 48 falls on the main board.
Oil prices plunged by more than US$5 (NZ$8.41) a barrel over concerns that sharp increases in borrowing costs caused by higher interest rates could dent economic growth.
Brent crude settled US$5.11 a barrel, or 5.6%, lower at US$85.81 a barrel after its biggest one-day drop since August 2022.
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