MT Newswires -Shutterstock <\/p>\n
New Zealand shares ended flat on Monday after Wall Street closed mixed on Friday, and Bitcoin rose to an all-time high on Sunday.<\/p>\n
The S&P\/NZX 50 Index was little changed to close at 13,489.24.<\/p>\n
On Friday, Dow Jones gained 0.51% while the Nasdaq Composite fell 0.28% and the S&P 500 finished near even.<\/p>\n
Meanwhile, cryptocurrency Bitcoin hit a record high on Sunday and was up nearly 2.7% at $125,245.57. Bitcoin is up nearly 33% year to date and up 100% compared to a year ago.<\/p>\n
In domestic news, the majority of the Monetary Policy Shadow Board at the New Zealand Institute of Economic Research has recommended a 25-basis-point rate cut to the Reserve Bank of New Zealand in the October monetary policy review, according to the institute’s statement.<\/p>\n
Also, the Reserve Bank of Australia (RBA) is expected to cut the official cash rate (OCR) by 50 basis points to 2.5% at its meeting on Oct. 8, as weaker-than-expected Gross Domestic Product, subdued inflationary pressure, and greater spare capacity in the economy, according to a note by Bank of America (BofA) global research.<\/p>\n
Meanwhile, the ANZ World Commodity Price Index fell 1.1% month over month in September, according to a Monday report from ANZ Research.<\/p>\n
In corporate news, SkyCity Entertainment Group (NZE:SKC, ASX:SKC) said that Chief Financial Officer Peter Fredricson tendered his resignation.<\/p>\n
Turners Automotive Group (NZE:TRA, ASX:TRA) declared a cash dividend of NZ$0.07 per share for the fiscal first quarter, up from NZ$0.06 the previous year.<\/p>\n","protected":false},"excerpt":{"rendered":"MT Newswires -Shutterstock New Zealand shares ended flat on Monday after Wall Street closed mixed on Friday, and…\n","protected":false},"author":2,"featured_media":61645,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4236,4234,50520,2711,111,50519,43,139,69,9045,9046],"class_list":["post-61644","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-bitcoin","tag-dow-jones","tag-monetary-policy-shadow-board","tag-nasdaq-composite","tag-new-zealand","tag-new-zealand-institute-of-economic-research","tag-news","tag-newzealand","tag-nz","tag-reserve-bank-of-australia","tag-reserve-bank-of-new-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/61644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=61644"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/61644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/61645"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=61644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=61644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=61644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}