NZ sharemarket rallies on index changes, confidence survey
New Zealand share prices rallied after a raft of index changes for key stocks and a strong business confidence survey helped boost sentiment.
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The New Zealand sharemarket was down again as investors remained steady following a strong gross domestic product update for the September quarter from Stats NZ.
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An Australian acquisition made good news for Freightways investors, but it was not enough to lift the NZ sharemarket, which dropped close to 1% on Wednesday.
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The New Zealand sharemarket put in another steady performance amid continued volatility offshore, especially in the United States.
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Seeka and PGG Wrightson provided some optimism for the economic recovery with earnings upgrades, helping fuel a decent turnaround in the New Zealand sharemarket.
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