NZ shares stabilise as buyers bag bargains

The S&P/NZX 50 Index rose 37 points, or 0.3%, to 11,785.13. Turnover was $172 million.

US markets had another volatile night but spent much of it trading in positive territory and the S&P 500 closed just 0.7% lower.

There are some hints the peace talks between Russia and Ukraine may be making progress behind the scenes, although there haven’t been any public announcements.

US president Joe Biden announced a ban on Russian oil and gas imports which prompted Russia to retaliate with a wider ban on commodity exports, although details are yet to be set.