NZ sharemarket ends the week with a lift
The S&P/NZX 50 Index rebounded from a morning low of 11,778.84 to close at 11,836.71, up 24.94 points or 0.21%. The index was down 0.9% for the week and has risen 4% so far this year.
There were 79 gainers and 44 decliners on the main board, with 23.77 million shares worth $102.86 million changing hands.
Fonterra Shareholders’ Fund increased 12c or 3.21% to $3.86 after the dairy co-operative said it expects full-year earnings to be at the top end of the forecast range of 65 cents to 80c a share. Also, the final dividend would be at the top end of 40-60% of normalised earnings and paid in October.
Fonterra told the market it had reported strong earnings through the 2023 financial year off the back of favourable ingredients margins.
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