NZ sharemarket closes week with near 0.5% gain

The S&P/NZX 50 Index rose steadily in the afternoon and closed at 12,823.89, up 55.35 points or 0.43% after reaching an intraday low of 12,708.44.

The index was flat for the week and has risen 8.8% so far this year.

Friday volumes increased on S&P Global Clean Energy Index rebalancing with 45.88 million shares worth $156.29m.

Meridian and Contact’s weightings on the index will be increased, and they gained 11c or 1.83% to $6.125 and 15c or 1.76% to $8.67, respectively. Mercury Energy was up 11c to $6.91, and Manawa added 18c or 3.4% to $5.48.