MARKET CLOSE: NZ shares rise as local earnings salvage sentiment

MARKET CLOSE: NZ shares rise as local earnings salvage sentiment
Dan Brunskill
New Zealand shares rose as earnings updates from local firms and US tech companies outweighed data showing a record quarterly contraction for the US economy. Mainfreight hit an all-time high.  The S&P/NZX 50 Index advanced 35.61 points, or 0.3 percent, to 11,727.63. Within the index, 20 stocks rose, 22 fell, and eight were unchanged. Turnover was $155.9 million. The slump in the world's biggest economy put investors on edge, as they weigh up tepid US activity for the broader economy. However, the local market managed to shake that off wit...

More Markets

NZ sharemarket falls due to global inflation fears
Markets Market close

NZ sharemarket falls due to global inflation fears

The S&P/NZX 50 Index closed at 11,867.58, down 89.92 points or 0.75%.

Michael Hill buffs up security as robbery costs climb
Retail

Michael Hill buffs up security as robbery costs climb

The jeweller has invested in new smash-proof assault glass and fog cannons.

John Penno quits Synlait board as George Adams elected chair
Primary Sector

John Penno quits Synlait board as George Adams elected chair

Synlait Milk co-founder John Penno has quit the company’s board, and George Adams has taken over as chair.The debt-laden milk processor told the New Zealand stock exchange (NZX) on Wednesday that Adams, who joined the board in March as an independent director, would take over fro...

David Mair to start immediately at Sanford
Markets

David Mair to start immediately at Sanford

Sanford says its delighted and fortunate to nab former Skellerup boss Mair.