MARKET CLOSE: NZ shares buoyed by Mainfreight's upbeat outlook

Wed, 27 May 2020

New Zealand shares were led higher by Mainfreight after the logistics group's earnings weathered the worst of the covid-19 crisis at a time when investors grow more optimistic about the global economy reopening. The S&P/NZX 50 Index rose 134.45 points, or 1.2 percent, to 11,049.19. Within the index, 38 stocks rose, 10 fell and two were unchanged. Mainfreight led the market higher, up 13.9 percent at $41 after keeping its final dividend unchanged and reporting a small increase in annual underlying earnings. Its result was pushed around b...

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