Shares edge higher as Aussie border opens

The S&P/NZX 50 Index increased 10.11 points, or 0.1 percent, to 11,822.84. Within the index, 27 stocks rose, 17 fell and six were unchanged. Turnover was $115.5 million.

Travel stocks led the market marginally higher in a mixed traded session as Australia’s deputy prime minister Michael McCormack said parts of the country would reopen its borders with New Zealand on Friday Oct. 16.

This saw shares in Air New Zealand surge 7.2 percent to $1.49 in the last 45 minutes of trading, with 3.3 million shares changing hands. The company is still down 50 percent year to date.