A takeover offer for Millennium and Copthorne Hotels NZ brightened an otherwise quiet day on the New Zealand sharemarket that started the week with a 0.3% decline.

The New Zealand sharemarket ended a strong week with a gain of more than 1.8%, erasing the year’s earlier losses, and powered by heavyweight Fisher and Paykel Healthcare as it neared a record high.

The New Zealand sharemarket posted its third successive rise of nearly 0.5% following a strong rally in the United States on softer-than-expected inflation data and improved earnings from leading banks.

Auckland International Airport and the tourism sector are benefiting from increased visitor numbers – the best in five years – as the New Zealand sharemarket posted a gain of nearly 0.5%.

The New Zealand sharemarket bounced back from three successive down days as the latest data showed the economy is slowly recovering, prompting renewed hope of a 0.5% cut in the official cash rate next month.

Cancer diagnostic company Pacific Edge slumped 55% after failing to get the backing for continued United States Medicare payments for its Cxbladder tests, and the New Zealand sharemarket joined global moves with a fall.

Leading retailer Briscoe Group downgraded its annual earnings by 10% on “continued subdued trading” as the New Zealand sharemarket ended a quiet week with a small fall.

The New Zealand stock exchange remains in “limbo” as international markets brace for the incoming second term of US President Trump.

The New Zealand sharemarket drifted on quiet trading despite a rally offshore, especially among the technology stocks in the United States.

The New Zealand sharemarket finished the second trading day of the year on a flat note, but there was continued interest in energy stocks Contact and Mercury in anticipation of an index change.

The New Zealand sharemarket finished the second trading day of the year on a flat note, but there was continued interest in energy stocks Contact and Mercury in anticipation of an index change.

The New Zealand sharemarket had a weak start to the year with the benchmark S&P/NZX 50 falling in light trading.

The New Zealand sharemarket ended the year with a sudden fall of more than 1% but it still put in its best performance since 2020.

Contact Energy, listed 25 years ago, reached an all-time high with a rise of nearly 6% as the New Zealand sharemarket staged a late surge to keep the Santa rally rolling.

New Zealand shares, and those offshore, are enjoying the Santa rally, with the local market closing at its second-highest level this year.

The New Zealand sharemarket delivered a mini-Santa rally as it traded above 13,000 points for the second time this month.