Healthcare heavyweight leads NZ sharemarket upwards

The S&P/NZX 50 Index traded consistently until a late dip and closed at 11,931.23, up 14.45 points or 0.12% – after reaching 11,934.24 on Aug 7 last year.

The index climbed nearly 0.5% for the week. There were 87 gainers and 46 decliners over the whole market on volumes of 26.37 million share transactions worth $87.54m.

Paul Robertshawe, chief investment officer with Octagon Asset Management, said the local market was slightly bullish.

“It had an okay lead from Wall Street, but the rises locally are quite widespread with a couple of laggards like a2 Milk and SkyCity being re-rated,” he said.