20 Feb 2020

NZX finishes day on record high

5:46 pm on 20 February 2020

The local sharemarket has surged to a record close on Thursday.

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Photo: Supplied / NZX

The NZX Top 50 index gained 84 points - about 0.75 percent - to 12,065. It's the first time it has exceeded 12,000.

The move was in line with movements on Wall Street, with the S&P 500 and Nasdaq also closing on record highs.

Analysts say solid company earnings reports and optimism that China may pump more money into its economy to counter the impact of the coronavirus have been driving investors.

The New Zealand market was one of the world's best performers last year, gaining more than 30 percent, and so far this year it's up by nearly 5 percent.

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