NZ shares prosper on strong earnings

The S&P/NZX 50 Index rose 135 points, or 1.1%, to 12,256.82. Turnover was $147 million.

Peter McIntyre, an investment advisor at Craigs Investment Partners, said investors were concentrated on earnings season with a possible Russian invasion of Ukraine put to the side.

“We've also seen global bond yields ease overnight and because we’re an interest rate sensitive market, any easing of bond yields is generally positive,” he said.

Greg Smith, head of retail at Devon Funds, said only time will tell if the tension around Ukraine dissipates with NATO allies warning Russia hasn’t visibly drawn down forces.