New Zealand market falls despite strong earnings

Mainfreight reported a $217m net-profit for the six months to September. (Image: Supplied)

Thu, 10 Nov 2022

The New Zealand local market ended the day in the red, despite strong earnings from heavy-weight stocks like global logistics company Mainfreight.The S&P/NZX 50 index decreased 51.54 points, or 0.46%, to 11,091.930 points. Across the main board, 40 shares rose and 91 fell. Turnover was very light at $68 million. It was a busy day on the earnings front with global logistics company Mainfreight reporting that it would pay $85.6m, up 54.5%, as an interim dividend to shareholders after boosting net profits by two-thirds...

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