The Markets
Fonterra's 'significant' upgrade happy surprise for NZ's market
Friday 9th of September 2022
Peter McIntyre from Craig’s IP said it had been another quiet day for New Zealand’s market, rounding off a sluggish two weeks.
The S&P/NZX 50 Index rose 79.8 points, or 0.68%, to 11,757.77. Turnover was $99.3 million.
McIntyre said the big market news of the day was dairy co-op Fonterra announcing it had increased its forecast earnings guidance for the 2022-23 season.
The dairy co-op told the NZX this morning it had revised its 2023 forecast earning guidance to between 45 to 60 cents per share – up from 30 to 45 cents per share.
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