NZ shares rise as leisure economy set to resume
The S&P/NZX 50 increased 46.36 points, or 0.4 percent, to 10,695.59. Within the index, 21 stocks rose, 26 fell, and three were unchanged. Turnover was $181.1 million.
Firms hamstrung by the covid–19 containment picked up more support today as investors rallied around stocks with exposure to the leisure sector, with the prospect of looser restrictions allowing more activities and easier shopping.
“Some of the consumer discretionary assets have had a bit of a recovery as there is a freeing up of the economy here and in Australia,” said Shane Solly, a portfolio manager at Harbour Asset Management.
Sky TV led the market higher, rising 6.7 percent to 32 cents as investors anticipated professional sport resuming under level 2. The pay-TV operator's biggest asset has been its grip on premium sports rights, something it's had to do without through the lockdown.
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