NZ shares up as earnings results loom
The S&P/NZX 50 Index rose 50 points, or 0.4%, to 13090.58. Turnover was light at $110 million.
Mainfreight climbed back to $90, up 2.3%, ahead of what is expected to be a strong interim result on Thursday with earnings boosted by what Forsyth Barr is calling “the global freight super-cycle”.
High demand for durable goods coupled with supply chain disruptions has resulted in increased margins for freight companies.
Fisher & Paykel Healthcare is trading in a similarly volatile fashion as investors tussle over how to value the stock that is currently benefiting from increased sales.
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