NZ shares rise; F&P Healthcare jumps on modest earnings upgrade
The S&P/NZX 50 Index advanced 113.01 points, or 1.1 percent, to 10,626.17. Within the index, 24 stocks rose, 23 fell, and three were unchanged. Turnover was $120.7 million.
Salt Funds Management managing director Matt Goodson said a number of blue-chip stocks bounced back today from yesterday's MSCI index reweighting which had "more downs than ups" and was out of step with recent reweightings.
"Part of today's strength is a bit of a rebound from some of that," he said.
F&P Healthcare led the market higher, up 6.1 percent at $16.07 on a volume of 679,000 shares, compared to its 90-day average of 517,000. The breathing mask respirator maker increased its annual earnings forecast by $5 million to $245-$255 million on the assumption of a weaker kiwi dollar.
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