Shares flat as volatile prices settle

The S&P/NZX 50 Index rose 4.99 points, or 0.04 percent, to a record 12,670.62. Within the index, 28 stocks rose, 18 fell and four were unchanged. Turnover was $193.3 million.

Financial markets have had sharp price movements in recent sessions driven by the prolonged US election, quickly followed by news of a viable vaccine and finally the Reserve Bank’s monetary policy statement yesterday.

The NZX 50 is up 5 percent since last Monday and the kiwi dollar has climbed 2.08 US cents, though a new covid case in the community pulled it lower this afternoon.

Today share prices still saw sizable moves as investors settled on new values for each stock, but the day was free of market moving headlines or economic data — although the new covid case may have introduced some caution.