Sharemarket flat as Mainfreight slips

Mainfreight and Fonterra reported results today. (Image: Getty)

Thu, 25 May 2023

Star performer Mainfreight has consistently grown its earnings and dividends over the past 13 years, but it took a tumble on the New Zealand sharemarket on a sombre outlook for the new financial year. The S&P/NZX 50 Index fell sharply to 11,902.01 in the morning, on the back of weak offshore markets, but recovered its losses in the afternoon to close reasonably flat at 11,959.85 – down 11.98 points or 0.1%. There was an even mix of 63 gainers and 64 decliners over the whole market on volume of 24.68 million share transaction...

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