Export stocks help pull NZ market up
The S&P/NZX 50 Index fell 80.5 points, or 0.72%, to 11,200.04. Turnover was $108.8 million.
Mark Lister, an investment director at Craig’s IP, said it had been an “ugly few weeks for markets globally” and the NZ share market's rebound today was thanks to the positive bounce that US markets had overnight as well as export stocks having a good day.
He said with the NZ dollar still incredibly low, export stocks were enjoying it while it lasted. Healthcare manufacturer Fisher & Paykel was up 1.6% to $19.20, logistics company Mainfreight jumped 1.77% to $68.90, and A2 Milk rose 0.98% to $6.16.
Tourism Holdings was up 2.94% to $2.80 after Australia’s competition watchdog gave it and Apollo Tourism & Leisure the tick of approval over its proposed merger.
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