NZ shares and dollar rise as optimism lingers

The S&P/NZX 50 Index rose 44.75 points, or 0.4 percent, to 12,744.92. Within the index, 26 stocks fell, 15 rose and nine were unchanged. Turnover was $156.2 million.

On Friday, both US covid-19 cases and the S&P 500 hit new records, investors seem less concerned with the rising case numbers now a promising vaccine has emerged.

The kiwi dollar climbed to 68.77 US cents at 5pm in Wellington, up from 68.18 cents on Friday, as the risk-on attitude supported the currency.

“We had some positive sentiment from US markets overnight and Asia is broadly higher,” said Jeremy Sullivan, an investment adviser at Hamilton Hindin Green.