MARKET CLOSE: NZ shares outperform weaker global markets

Fri, 29 May 2020

New Zealand shares edged higher today as positive earnings counterbalanced a weak lead from Wall Street as investors eyed escalating US-China tensions. The S&P/NZX 50 Index rose 25.72 points, or 0.2 percent, to 10,882.41, taking the monthly gain to 3.3 percent. Within the index, 25 stocks rose, 22 fell, and three remained unchanged. Turnover was $867.9 million with volumes boosted by the monthly reweighting of the MSCI Equity Indices. Fletcher Building, up 2 percent at $3.51, saw 82.7 million shares traded. Stocks on Wall Street were w...

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