NZ sharemarket ends the week on a bright note

Infratil shares reached a new record helping lift the NZ sharemarket. (Image: Getty)

Fri, 30 Jun 2023

The New Zealand sharemarket continued its broad-based rally with a near one percent rise, and utilities investor Infratil was quickly back to an all-time high.The S&P/NZX 50 Index followed the same pattern as the previous two days – down in the morning to a low of 11,704.37 and up in the afternoon, closing with a gain of 108.35 points or 0.92% to 11,916.47.The index was up 1.53% for the week and has now increased nearly 3.9% for the year.There were 88 gainers and 37 decliners over the whole market on volumes of 50.92 million transacti...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

The Quiz Free

QuiznessDesk, Friday, July 4

Take a break and try our quiz.

The Quizmaster 9:15am

Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million.

The Wall Street Journal 9:00am

JPMorgan is revamping Its bank for the superrich

Property

The business born battling Vector connection contracts

'Pretty on the nose': Developers challenge Vector's hefty fees.

Garth Bray 5:00am

The business born battling Vector connection contracts

Sponsored

Tough conversations ahead as cost of living drives employee requests for pay rises

Rising living costs put pressure on both workers and employers.

Moneyfit

Sponsored

Why corporate giving matters

Dave Letele and Z provide support where urgent need is overlooked.

Z Energy

More Markets

Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Gregor Thompson 9:45am