
Market close: NZ stocks stage strong recovery on Trump tariff pause
The NZX index shook off yesterday's 1.42% fall.
The NZX index shook off yesterday's 1.42% fall.
The New Zealand sharemarket slumped to its biggest single-day-fall since December 19.
The threat of Trump tariffs reared its head again for some businesses.
Synlait is back in action after a terrible 2024, while trade tension overhangs FPH.
The New Zealand sharemarket posted its fourth decline in five trading days.
Kaingaroa lies at the heart of New Zealand's forestry sector.
A late spurt helped the local index finish higher for the day.
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US-listed Rocket Lab hit a record high, with its shares rising 30%.
Investors are trying to figure out what Trump's policies will mean for the markets.
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The market still declined despite the corporate action.
Shares in the company rose $1.05 or 2.77% to $38.90, its second-highest close.
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Auckland airport, Tourism Holdings and Millennium and Copthorne Hotels NZ all rose.
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The decline comes after the index was up 11.4% in 2024.
The New Zealand stock exchange reported a decline as overseas markets led the way.
The New Zealand share market had a slight bump.
There was continued interest in Contact and Mercury ahead of an index change.
It was a soft start to the year on worries about higher bond rates.
The S&P 500 and Nasdaq rose to record highs last year.
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But the NZX index finished the year with a gain of 11.4%.
The index hit its highest point of the year after a late run.