NZ sharemarket at two-year high as earnings season begins

Investors will be hoping the NZ sharemarket can pick up from where it left off last week after the local market enjoyed its best week in almost four years, buoyed by the Reserve Bank’s decision to cut the official cash rate for the first time since March 2020 and growing optimism that company results will live up to expectations.
It was the interest rate cut investors, homeowners and businesses had all been hoping for, but few expected, given the central bank’s hawkish stance of late, though in the end the RBNZ opted to act in response to recent data showing the local economy continuing to deteriorate.