NZ shares end November higher in heavy month-end trading

The S&P/NZX 50 index increased 28.66 points, or 0.3 percent, to 8,823.54, marking a 0.8 percent gain in November. Within the index, 29 stocks rose, 17 fell and four were unchanged. Turnover was $299.2 million.

Trade Me was the best performer in November, up 25 percent in the month at $6.13. While the shares dipped 0.3 percent today, they've been buoyed by a potential $2.54 billion takeover by UK private equity firm Apax Partners. This week Australian media reported a rival suitor may emerge.

Fletcher Building shares fell the most in November, down 20 percent, after the construction firm warned annual earnings may be weaker as Australia's market slows. The stock was down 0.6 percent today at $4.76 on volumes of 2.8 million.

Nineteen companies traded on volumes of more than one million shares on month-end rebalancing, with Spark and Meridian moving on volumes of 10.7 million and 7.2 million respectively. Spark rose 1.4 percent to $4.23 and Meridian was up 1.7 percent at $3.305.