Mainfreight, China optimism drive stocks higher

Mainfreight, China optimism drive stocks higher
For the 2024 year, Mainfreight reported pretax earnings of $395m, and revenue of $4.7b. (Image: Supplied)
Jamie Gray
Optimism that there may soon be a solution to the US-China trade impasse helped drive the New Zealand sharemarket higher, along with others around the region.The benchmark S&P/NZX 50 index ended at 12,327.89, up 179.29 points or 1.48%, and building on Thursday’s 2% gain.There were 78 rises and 52 falls among the 41.1 million shares worth $145.7m traded.The standout performer on the day was logistics firm Mainfreight, which gained $6.84 or 12.4% to end at $62.01 after a positive earnings update.According to news reports from Hong Kong,...

More Markets

The pros and cons of Sky’s big deal
Markets

Eden Bradfield: The pros and cons of Sky’s big deal

You'd best hope streaming and advertising revenue make up for the $1 purchase.

Infratil and Ebos help drive NZ stocks higher
Markets Market Close

Infratil and Ebos help drive NZ stocks higher

Infrastructure investor helped the sharemarket end the week on a positive note.

Tom Raynel 25 Jul 2025
Bathurst fails to strike-out Talley's claims
Markets

Bathurst fails to strike-out Talley's claims

Talley's is alleging Companies Act breaches by its coal JV partner.

Pattrick Smellie 25 Jul 2025
New CFO for KMD Brands
Markets

New CFO for KMD Brands

Carla Webb-Sear has been appointed group chief financial officer for KMD Brands.She will join the group executive team on Aug 4 and report to Brent Scrimshaw, group chief executive and managing director.She joins KMD Brands from Qantas, where she was chief financial and strategy...

Staff reporters 25 Jul 2025