NZ sharemarket looking to end the year up, despite soft retail data

The S&P/NZX 50 Index climbed steadily after an early-morning fall and closed at 11,768.68, up 90.25 points or 0.77%.

The top 50 index reached an intraday low of 11,646.18 points and has risen nearly 2.5% for the year, with just a half-day trading session remaining. The S&P/NZX All Index - which comprises of all stocks on the main board - is up 3.4% for the year.

There were 90 gainers and 28 decliners over the whole market and trading was again light with 13.1 million shares worth $44.21m changing hands.

Shane Solly, portfolio manager with Harbour Asset Management, said investment money that had been waiting on the sideline was being put to work at the end of the year.