MARKET CLOSE: NZX50 gains 4.9% in November as M&A boosts retirement sector

By Paul McBeth | Fri, 29 Nov 2019


The S&P/NZX 50 Index rose 4.9 percent in November as retirement village operators were boosted by potential merger and acquisition activity and A2 Milk mounted a comeback on strong earnings guidance. The benchmark index rose 109.29 points, or 1 percent, to 11,316.58 today, led higher by power companies on news of a meeting between Energy Minister Megan Woods and Rio Tinto executives where ways to cut the Tiwai Point smelter’s energy bill was discussed. Within the index, 24 stocks gained, 17 fell, and nine were unchanged. Turnover was $199...