Third consecutive day of gains on NZX as optimism persists
The S&P/NZX 50 Index advanced 104.53 points, or 0.9 percent, to 11,222.80. Within the index, 37 stocks rose, 10 fell, and three were unchanged. Turnover was $307.5 million.
The benchmark index's strength has followed global markets as investors become increasingly confident the world economy would return to its former strength swiftly.
Investors have been seeking bargains, buying companies that have lagged behind the recent rally and selling out of firms that remained strong through the pandemic.
“The pockets that have performed well are the ones that hadn’t recovered yet from the covid selloff in March,” said Sam Trethewey, a portfolio manager at Milford Asset Management.
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