Shares rise in quiet trading

The S&P/NZX 50 Index rose 35.14 points, or 0.3 percent, to 11,859.45. Within the index, 23 stocks rose, 20 fell and seven were unchanged. Turnover was $114 million.

A thin majority of stocks on the benchmark index posted gains as some investors took the opportunity to buy after a sell down on Friday. The NZX 50 declined 2.2 percent across last week, following a similar drop in global equity markets.

“After such a strong run it is no great surprise that markets are taking a breather, particularly for some parts of the market that have been very strong of late,” said Mark Lister, head of private wealth research at Craigs Investment Partners.