26 Apr 2012

Auckland the engine of economic recovery - analyst

9:04 am on 26 April 2012

An equities analyst says much of New Zealand's economic recovery is being driven by Auckland, which is likely to benefit stocks like SkyCity Entertainment.

Returns for AMP Capital's flagship balanced fund rose 5.5% in the first three months of the year.

AMP Capital head of equities Guy Ellife says it has been a strong few months for New Zealand equities in particular.

He says that has been driven by a strong performance from offshore markets, a reduction in the perception of European risks, strong US data and a seeking of yield in the New Zealand market from both domestic and offshore buyers.