Positive Gentrack result gives sharemarket a boost

Michael Hill had a bad day on the sharemarket. (Image: NZME)

Mon, 20 May 2024

A surging Gentrack gave the New Zealand sharemarket and the company reporting season a positive tone with strong revenue growth and an earnings upgrade.After reaching a morning low of 11,661, the S&P/NZX 50 Index closed at 11,720.8, up 35.92 points or 0.31% – despite two further earnings downgrades, this time from Michael Hill and Comvita.There were 74 gainers and 64 decliners on the main board with 28.5 million shares worth $97.55m changing hands.Mark Lister, investment director with Craigs Investment Partners, said the market has ha...

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