NZ sharemarket celebrates highest single-day rise in over five months
Strong performances from Fisher and Paykel Healthcare and Ebos pushed the New Zealand sharemarket to its highest single-day rise in over five months – up more than 1%.
The S&P/NZX 50 Index climbed steadily in the afternoon before the Anzac Day break and closed at 11,946.43, increasing 143.15 points or 1.21% after reaching an intraday low of 11,784.53.
The previous best day was a gain of 1.61% to 11,352.84 on Nov 15.
There were 90 gainers and 52 decliners over the whole market on volumes of 28.34 million share transactions worth $95.96m.
Fisher and Paykel ...MORE»
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Updated expectations on liquidity risk management
The Financial Markets Authority has updated guidance for fund managers and supervisors on effective liquidity risk management (LRM) including KiwiSaver redemptions.
Under the new LRM guidance which replaces the 2020 version, the FMA recommends that fund managers have a range of appropriate liquidity management tools (LMTs) for specific circumstances, including where redemption obligations can’t be met in the ordinary course of business.
The guidance says in extreme circumstances managers, including KiwiSaver providers, should be able to temporarily suspend ...MORE»
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