NZ sharemarket boosted by energy stocks, Fletcher
The S&P/NZX 50 Index traded steadily all day and closed at 11,789.39 points, up 71.95 points or 0.61%. The index was down 1% for the first half of the year.
There were 66 gainers and 78 decliners on the main board, with 39.36 million shares worth $151.31m changing hands.
Mark Lister, investment director with Craigs Investment Partners, said there weren’t many major share-price moves, but “you can’t underestimate the energy companies, which have big weightings and can push the market around”.
Meridian increased 31c or 4.93% to $6.60; Mercury was up 14.5c or 2.21%; and Contact gained 12c to $9.12. Contact told the market it is building a 100MW battery energy storage system next to NZ Steel and Transpower’s grid connection point.
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