NZX50 lifts ahead of long weekend on low volumes

NZX50 lifts ahead of long weekend on low volumes
The spectre of high food price inflation did not deter investors today. (Image: Getty)
Graham Skellern
The New Zealand sharemarket moved into the Matariki holiday with a near one percent gain on confidence that inflation is being tamed and bond yields have peaked.Mainfreight went higher after overcoming challenging trading conditions to record another positive annual result.The S&P/NZX 50 Index climbed steadily from lunchtime and closed at 12,013.43, up 105.16 points or 0.88% on light trading.There were 89 gainers and 41 decliners on the main board, with 23.23 million shares worth $82.45m changing hands.Paul Robertshawe, chief investment off...

More Markets

Tourism Holdings stalls as NZ sharemarket ends week on high
Markets Market Close

Tourism Holdings stalls as NZ sharemarket ends week on high

The NZ sharemarket bounced back as large-cap stocks balanced gains and losses.

Forsyth Barr shifts Turners Automotive to neutral
Markets

Forsyth Barr shifts Turners Automotive to neutral

The company has delivered five consecutive years of record earnings.

Vital board backs Tait takeover
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...

Listed property firms welcome ‘Investment Boost'
Property

Listed property firms welcome ‘Investment Boost'

The tax policy could translate into millions in extra cash.