NZ shares rise; A2 Milk slumps
The S&P/NZX 50 Index rose 73.16 points, or 0.6%, to 12,650.64. Within the index, 27 stocks rose, 17 fell and six were unchanged. Turnover was $198.5 million.
Offshore equity markets were lower overnight after reports that US president Joe Biden will propose to almost double the US capital gains tax on wealthy individuals.
Local investors ignored the negative offshore lead and most stocks on the NZ index rose, led by Oceania Healthcare, which jumped 5.2% to $1.42.
Investors may have been encouraged by a shareholding disclosure released today which revealed senior management had bought shares in the capital raise last month.
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