NZ sharemarket turnaround as Mercury Energy hits all-time high
Following a sharp fall on Wall Street, the S&P/NZX 50 Index fell at the opening and reached a morning low of 11,656.38 points. But the index picked up steam during the afternoon, particularly in the end-of-day matching session, and closed at 11,795.9, up 42.88 points or 0.36%.
There were 71 gainers and 56 decliners over the whole market on volumes of 35.67 million share transactions worth $139.51m.
David McConnochie, investment adviser with Forsyth Barr, said it was another quiet day news-wise on the market.
“With the reporting season out of the way, the market will muddle along till the dividends are paid,” McConnochie said.
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