Shares end muted week with small rise

Markets across the globe have failed to gain traction as US stimulus negotiations floundered in the run up to the presidential election.

The S&P/NZX 50 Index rose 63.05 points, or 0.5 percent, to 12,470.34. Within the index, 31 stocks rose, 14 fell, and five were unchanged. Turnover was $163.8 million.

Today’s half a percent rise was one of the more significant moves in a week where bullish and bearish investors seemed to be stuck in a tug of war.

“Markets globally have been churning around a relatively flat level over the last few days, with the US elections being a key aspect there,” said Matthew Goodson, a director at Salt Funds Management.