New Zealand shares rise

Dhaka,  Monday,   2016-09-22
Published : 22 Sep 2016, 15:25:55

New Zealand shares rise

New Zealand shares rise
New Zealand shares rose on Thursday after New Zealand's central bank kept its benchmark interest rate at 2.0 per cent.

The benchmark S&P/NZX 50 index recovered to rise 0.6 per cent or 42.48 points to 7,323.65.

The central bank kept its benchmark interest rate, but the high New Zealand dollar and lukewarm inflation may soon spur it to cut.

Dairy giant Fonterra Co-operative Group Ltd nudged 0.2 per cent higher after reporting an increase in its full year net profit despite challenges in global dairy markets.

TOWER Ltd was the biggest percentage gainer on the benchmark, rising as much as 4.7 per cent to record its biggest intra-day percentage gain since May, according to a news agency report.

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