NZ sharemarket up slightly, September's uncertainty continues

The S&P/NZX 50 Index increased 11.2 points, or 0.09%, to 12,632.82. Across the main board, 79 stocks rose, and 50 fell. Trade volumes were just over 41 million, accounting for $164 million in total value traded.

Blair Knight, an investment adviser at Craigs Investment Partners, said September is historically one of the worst months, but this year, it's too early to call.

"We had a pretty bumpy ride to kick the month off. We're just sort of treading water a little bit at the moment. There's little news flow and not a huge amount of direction,” he said. “[NZ markets] are being driven on a lot off the offshore flows.” 

The day's leader, Cooks Coffee Company, rose 11.11% to 25 cents on small volumes after a trading update. Sales at Esquires stores, a cafe chain based in Britain and Ireland and Cooks Coffee's core business, are up as the company continues expanding its footprint in the British Isles.