Sky TV leads NZX50 higher

The S&P/NZX 50 Index rose 8.4 points, or 0.1%, to 13,288.87. Turnover was $171.9 million.

Forsyth Barr’s research team said the 5% return in August made it the index’s best month since November 2020, with mid-sized stocks outperforming with a 6.1% return.

Entertainment company Sky TV led the index higher today, climbing 4.6% to reach 20.5 cents. The stock is now up almost 30% since last Thursday.

The rally has been given further fuel this week by Californian investors Osmium Partners buying up a 5.7% stake for $15.8m and chief executive Sophie Maloney buying up $148,000 worth of shares with her own money.