New Zealand shares rose on renewed enthusiasm for Heartland Bank and news Air New Zealand has tapped former Prime Minister John Key for its board, while Fletcher Building and Chorus fell.
The S&P/NZX 50 Index gained 3 points, or 0.05 per cent, to 7,382.22. Within the index, 30 stocks gained, 13 fell and seven were unchanged. Turnover was $115 million (£89.05 million).
“There has been renewed enthusiasm for the market as we see swap rates come back down again and the market being a little bit more supported, after the French election results were positive for markets globally and after we saw some positive policy enthusiasm from Trump, particularly around tax cuts,” said Peter McIntyre, an investment adviser at Craigs Investment Partners.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.