Busy day on sharemarket; Good weekly end
The New Zealand sharemarket soon got over the shock of the worse-than-expected gross domestic product data with a rise of more than 1% – on a day dominated by index changes and late heavy trading.
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The New Zealand sharemarket tumbled nearly 1% on the revelation that the country was in a deeper recession than expected – and the NZ dollar hit a 15-year low.
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Clothing retailer Hallenstein Glasson received its own Christmas present, an all-time high for its share price, while the New Zealand market drifted lower on lighter trade.
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A strong bounce from Mercury Energy helped push the New Zealand sharemarket to a near 1% gain – its third successive rise as it closes in on double-digit growth this year.
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The New Zealand sharemarket had a late revival all thanks to Fisher and Paykel Healthcare, and is looking ahead to strong leads from crunch economic data and interest rate moves.
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