F&P Healthcare props up NZX50

The S&P/NZX 50 Index climbed 27.8 points, or 0.2%, to 12,794.61. Turnover was $189 million.

Fisher & Paykel, as the index’s biggest stock, was responsible for the bulk of this gain as it climbed 4.9% to $33.78 with 1.1m shares traded.

Investors had been expecting the exporter to report significantly lower revenue as pandemic-related sales subsided, however, income only dropped 1% as sales held up better than expected.

Head of private wealth research at Craigs Investment Partners, Mark Lister said the result was ahead of market expectations, with some analysts being too cautious with their numbers.