Meridian leads NZ stocks higher

Wed, 18 May 2022

New Zealand shares generally rose on Wednesday following a rally on Wall Street overnight and boosted by a strong performance from NZ electricity stocks.The S&P/NZX 50 Index rose 120 points, or 1.1%, to 11,258.28. Turnover was $150 million.Meridian Energy led the market higher, jumping 4.7% to $4.65, after sharing a positive operating report for April.Retail sale volumes were up 3.1% on the same month last year, with demand from businesses up more than 10%, while agricultural volumes dropped 18%.Electricity grid manager Transpower also publ...

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