The New Zealand stock market was supported by strong local economic data and some certainty outside of the US.
The benchmark index NZX 50 ended Thursday at 12. 888 points and a plus of 0. 47 percent.
Greg Main, director of wealth management at investment advisory firm Jarden, said the increasing likelihood of a stimulus package in the US and continued support from the US Federal Reserve had boosted global markets with a flow-on effect in New Zealand.
READ MORE: * Get Synlait Shares 7. 8th%; Trading was halted until the announcement. * NZX was hurt by stronger weakness in market heavyweight A2 Milk. * The excitement on Wall Street doesn’t cancel NZX. * The trading freeze did not prevent NZX from approaching its all-time high
Economic activity has recovered to pre-Covid levels. The gross domestic product rose in the three months to the 30th. September down 14 percent, reported Stats NZ.
The big intrigue in the market, however, was the announcement by The a2 Milk Company, Main said.
A2 Milk was put on a trading freeze Thursday morning due to an announcement by the milk company.
The company informed the NZX that the stop would be lifted when the announcement was made or when the market opened on Monday.
“We’ll have to wait and see what exactly comes out of it. There is a lot of speculation about the wording of this statement and when it will be timed, ”he said.
« The market was waiting to hear what happened to the US financial condition, » said Main.
However, investors were also watching what happened in relation to Brexit. That could throw a wrench in the works, he said.
“We have many international investors and marginal buyers from the USA. Whatever happens to them flows through to us. ”
The a2 Milk Company, Trading Freeze, Investor, ASX, NZX, Milk
World News – AU – A2 Milk Intrigues cannot dampen investor sentiment after strong GDP results
Donnez votre avis et abonnez-vous pour plus d’infos
Vidéo du jour: