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Home / Business / Markets / Shares

NZ sharemarket hits a record high

1 Nov, 2006 01:50 AMQuick Read

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KEY POINTS:

The New Zealand Stock Exchange's main index has hit a new all-time high, in line with similar peaks on the Australian and US markets.

The three-year-old NZX-50 gross index has risen so far today to 3810.12, beating the last peak of 3807.26 on April 7.

It has risen about 13 per cent this year.

The market was boosted by gains in Fisher & Paykel Healthcare, up 17c, and Infratil, up 15c.

Both the Australian and US bourses have also hit record highs recently. This morning the benchmark S&P/ASX 200 index rose 0.5 per cent to 5411.8, outpacing the previous high on Monday, up 0.2 per cent on good banking performances.

US markets were weaker today but the Dow Jones industrial index is hovering around record highs. It rose 3.4 per cent for the month, followed by a 3.2 per cent gain in the S&P 500, and a 4.8 per cent rise on the Nasdaq.

It was the best one-month percentage gain for the three indices since November 2005, and the best October for all three since 2003.

- NZPA

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