NZ shares climb as global economy tipped for recover
The S&P/NZX 50 Index rose 87.11 points, or 0.7%, to 12,487.59. Within the index, 23 stocks rose, 22 fell, and five were unchanged. Turnover was $271 million.
Overnight, the International Monetary Fund lifted its forecasts for global growth now forecasting a 6% expansion in 2021, which would be the faster rate in decades.
“Global prospects continue to look up, buoyed by vaccine rollouts and the massive dollop of policy stimulus,” said Mark Smith, an economist at ASB Bank.
Smith said market movements in foreign markets were modest overnight, although major US stock indices were hovering near record highs.
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