Market close: NZ stocks gain as world bond yields ease
2 Mar, 2021 04:36 AM
4 minutes to read
The sharemarket closed firmly after day three of Auckland s re-imposed alert level 3 lockdown. Photo / File
The sharemarket closed firmly after day three of Auckland s re-imposed alert level 3 lockdown. Photo / File
Investors took their lead from a decline in bond yields to drive the local sharemarket higher on light volume, with the big, yield-sensitive power companies leading the way. The S&P/NZX50 index ended at 12,344.49, up 42.68 points or 0.35 per cent, building on Monday s 0.6 per cent gain, but off its high for the day.
Trade was light, with turnover coming in at 52m shares, worth $179.3 million.
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BRUSSELS, March 2 (Reuters) - Italy s bailout of ailing bank
Tercas six years ago did not involve state aid, Europe s top
court said on Tuesday, in a setback to EU competition enforcers
that may pave the way for compensation for Italian savers.
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($360 million) rescue of Tercas was illegal because it was
carried out with money from Italian deposit guarantee fund FITD.
It ordered Italy to recover the money, a move which
subsequently resulted in less favourable terms for bailouts of
other banks, including Banca Monte dei Paschi di Siena in 2017.
The Luxembourg-based General Court, Europe s second-highest,
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