"Against the backdrop of the worldwide markets, we've had a good day," said Mark Lister, head of private wealth research at Craigs Investment Partners. Tower Insurance was the biggest decliner in the S&P/NZX 50 Index - ending the day down 7.1 per cent to 79c. The muted response in the sharemarket was a sign of a strong government position and resilient business leaders, he said. However, the interest rate market showed no concerns that the Reserve Bank would cut interest rates as it did after the 2011 quake in Canterbury. "Interest rate market expectations are watched closely and haven't changed too much," said Alex Hill, head of corporate FX at NZForex.

Source: New Zealand Herald November 14, 2016 05:38 UTC