Robust trading update from Tauranga Port perks up market

Port of Tauranga reported a 7.6% increase in volumes. (Image: Deposit Photos)

Fri, 25 Oct 2024

The New Zealand sharemarket had a soft finish to the week but Port of Tauranga provided another positive first-quarter trading update.The S&P/NZX fell at the opening but then traded steadily to close at 12,771.61, down 42.46 points or 0.33%. The index declined more than 0.3% for the week and is now ahead nearly 8.6% for the year.The volumes of 33 million shares worth $126.9m featured the sale of 11.28m Freightways shares at $9.65 a share (worth nearly $109m) held by the largest shareholder Colin McDowell, the founder of Allied Express. Frei...

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