NZ shares rise on another quiet day
There was more news than yesterday – Fletcher Building announcing it was ramping up plasterboard production and NZ Automotive Investments saying it had lost the confidence of its financier – but the market was still reasonably quiet as the countdown to the start of the earnings season continues.
The S&P/NZX 50 index rose 50.6 points, or 0.43%, to 11,753.48. Turnover on the main board was light at just $83.6m.
Grant Davies, an investment adviser at Hamilton Hindin Greene said the market was expecting “robust” numbers from company earnings but said it was also going to come down to companies' outlook.
“But most companies won't be able to give too much of a solid outlook, just like they haven't been able to for the last couple of years,” he said.
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