NZ stocks tick higher as offshore moves lift sentiment
The S&P/NZX 50 index rose 37.64 points, or 0.4 percent, to 8,816.42. Within the index, 27 stocks rose, seven were unchanged and 16 fell. Turnover was $130.9 million.
Sentiment got a lift when the Dow Jones Industrial Average rose 0.8 percent and the S&P 500 lifted 0.6 percent on gains in the broader financial sector. Australia's S&P/ASX 200 index was up 0.9 percent after the Reserve Bank of Australian kept rates on hold at a record 1.5 percent.
"It's been a positive day in reaction to offshore firmness in the markets. We are really following them and we are just clawing back our losses from October," said Grant Williamson, a director at Hamilton Hindin Greene.
A2 Milk lifted 3.5 percent to $10.50 after falling in recent sessions. Williamson said the lift wasn't driven by any specific news but by buying interest at these levels.
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