NZ stocks extend gains, buoyed by local rates outlook; Spark, Z rise
The S&P/NZX 50 index rose 35.39 points, or 0.4 percent, to 8,931.40. Within the index, 28 stocks rose, seven were unchanged and 15 fell. Turnover was $103 million.
Greg Smith, head of research at Fat Prophets, said events this week have been good for investor sentiment globally.
The Democrats winning control of the US House of Representatives will provide a check on the Trump administration that “has been known to unnerve a few people from time to time”.
A rate rise in the US in December is still likely, but any thawing in trade relations between China and the US at the G20 talks later this month could generate a “risk-on rally into the end of the year,” Smith said.
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