The Markets
Positive earnings lift NZ sharemarket
Friday 20th of May 2022
The S&P/NZX 50 Index rose 60 points, or 0.5%, to 11,267.39. Turnover was $138 million.
NZ had one of the few share markets moving higher on Friday as investors in other parts of the world continued to worry about the risk of a global recession.
“Stocks and risk sentiment haven’t managed any sort of bounce from yesterday’s rout, and seem to be waiting for fresh direction,” said ASB economist Mike Jones.
Locally, a set of strong earnings results gave markets a lift with some companies seemingly fending off difficult economic conditions.
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