8 Jun 2020

NZX top-50 posts strong result as level 1 announced

7:43 pm on 8 June 2020

The local sharemarket has had its strongest single session in nearly two months.


Photo: NZX / Supplied

Tonight's move to level 1 and signs of a lift in activity in major economies have lifted investor sentiment.

The benchmark top 50 index closed up by 352 points, or 3.1 percent, the biggest one- day gain since late April.

Among the biggest rises was Air New Zealand, which gained more than 9 percent on a statement that it should be back in profit in two years.

The market has recouped virtually all the losses incurred since Covid-19 sparked meltdowns in early-to-mid March.

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