Solid results brought an end to days of decline for NZ sharemarket

The S&P/NZX 50 Index finished at 11,485.26, up 26.56 points or 0.23%, following the 1.31% fall the day before.

The index traded between a low of 11,423.94 points and a high of 11,489.18. The main board had 56 gainers and 68 decliners, with 25.15 million shares worth $113.16m changing hands.

Shane Solly, portfolio manager with Harbour Asset Management, said the market was settling down after the rough day previously.

“A theme coming through the reporting is that the domestic economy is slowing faster than people expected and the high-interest costs – which are not going away in a hurry.