NZX 50 gains 0.10% on strong Wall Street closing; top cryptos in green

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NZX 50 gains 0.10% on strong Wall Street closing; top cryptos in green

 NZX 50 gains 0.10% on strong Wall Street closing; top cryptos in green
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

Highlights

  • The NZ share market closed in the green territory
  • Bremworth, Vista Group International, and Sky Network Television were the top gainers
  • Major cryptocurrencies like Bitcoin, Ethereum, Cardano, etc., are witnessing price rise

The New Zealand share market ended in the green on Thursday, taking cues from Wall Street.

At the market close on 16 June, the benchmark index S&P/NZX 50 ended 0.10% or 10.660 points higher at 10,646.580. The index was supported by the S&P/NZX All Energy, the S&P/NZX All Information Technology as well as the S&P/NZX All Health Care, which rose 1.55%, 1.46%, and 1.17%, respectively.

Further, the country’s GDP fell 0.2% in the quarter ended March 2022, mainly impacted by the volatile global situation. However, NZ still boasts strong annual growth, reflecting its resilience amid the challenging global environment. Also, the Kiwi government on Thursday announced an early end to pre-departure tests for travel to the country from next week.

Who gained? Who lost?

Source: © Krisdog | Megapixl.com

Among the top NZX gainers were Bremworth Limited (NZX:BRW) and Vista Group International Limited (NZX:VGL), whose shares soared 6.74% and 6.45%, respectively, followed by Sky Network Television Limited (NZX:SKT), which rose 5.78% and My Food Bag Group Limited (NZX:MFB), which was up 4.65%.

On the other side, New Talisman Gold Mines Limited (NZX:NTL) was the top NZX decliner, which fell 50.0%. It was followed by Chatham Rock Phosphate Limited (NZX:CRP), whose shares slumped 8.11%.

Global markets

On Wall Street, the NASDAQ advanced 2.50%, the Dow Jones climbed 1%, and the S&P 500 ended 1.46% higher on 15 June, after the Federal Reserve lifted the main interest rate by three-quarters of a percentage point, i.e., by 0.75%, the largest interest hike since 1994 to limit the escalating inflation.

In Europe, stocks are likely to witness a rally on Thursday as global investors digest the Fed’s decision to implement the interest rate hike.

Coming to Asia-Pacific markets, Japan's Nikkei 225 was rising 0.40%, and South Korea's Kospi was up 0.16%, while the Shanghai Composite was down 0.64% at the time of writing.

Oil and gold prices

On Thursday, oil prices witnessed some respite after a sharp dip in prior session. At the time of writing, Brent Oil Futures were up 0.51% to US$119.12 a barrel. Investors kept a close watch on the developments since a strong demand hovered over constraint supplies after sanctions by Western countries disrupted access to Russian oil.

The yellow metal edged higher on Thursday, majorly on account of mild weakness in the US dollar as the interest hike by the US central bank has sent the currency tumbling.

Gold futures were trading 0.49% higher to US$1,828.50 per ounce.

Top cryptos in green

At the time of writing, the global crypto market cap surged 3.38% over the last 24 hours to US$936.77 billion, following the interest hike announcement by the US Federal Reserve.

Most of the top cryptos are in the green, with Bitcoin, Ethereum, Cardano, Solana, Polkadot, Avalanche, etc., witnessing an increase in their prices at the time of writing.

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