NZ Shares To Gain On RBNZ's Preemptive Rate Cut

Forex News NZ shares likely to get a boost after RBNZ cuts official cash rate, indicates more cuts to come; "obviously it is going to go a bit better, hopefully it is the start of something in the right direction," says UBS head of equities Campbell Stuart. Adds RBNZ move will bring in cashed-up investors who have been sitting on the sidelines, plus weaker NZD after rate cut will shine spotlight on currency sensitive stocks. Fisher & Paykel Healthcare (FPH.NZ), Fisher & Paykel Appliances (FPA.NZ), Fletcher Building (FBU.NZ) likely to benefit. Benchmark NZX-50 index closed up 1.8% at 3201.65 yesterday.