NZX50 lifts ahead of long weekend on low volumes

Mainfreight went higher after overcoming challenging trading conditions to record another positive annual result.

The S&P/NZX 50 Index climbed steadily from lunchtime and closed at 12,013.43, up 105.16 points or 0.88% on light trading.

There were 89 gainers and 41 decliners on the main board, with 23.23 million shares worth $82.45m changing hands.

Paul Robertshawe, chief investment officer with Octagon Asset Management, said two brokers told him it was the quietest day they can remember for responses from fund managers – except for the two and a half days trading between Christmas and New Year.