NZ shares rise despite SkyCity falling 5%
The S&P/NZX 50 Index rose 21.38 points, or 0.2%, to 12,517.65. Turnover was higher than usual at $335.9 million.
Nick Smyth, an interest rate strategist at BNZ, said the US nonfarm payrolls report showed lower-than-expected job growth but had delivered the 'goldilocks' outcome investors wanted.
“The market reaction was consistent with investors seeing less risk of an imminent tapering decision by the Fed, which saw lower bond yields and higher equity markets,” he said.
Equity markets in the United States rebounded, with interest rate-sensitive tech stocks leading the way.
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