April another month of solid gains for sharemarket
The S&P/NZX 50 Index increased 1.06 points, or 0.01 percent, to 10,013.83. Within the index, 23 stocks rose, 22 fell, and five were unchanged. Turnover was $195.2 million, of which Trade Me Group accounted for $42.4 million.
Trading was subdued with a lot of investors in Sydney for the Macquarie Australia Conference, where dozens of company executives provide updates on their businesses.
April was another month of solid gains for the benchmark index, taking its year-to-date increase to 13.7 percent, ahead of the reporting period for companies with March and September balance dates.
Three of the four major Australian banks will report first-half earnings during the coming week, with Australia and New Zealand Banking Group first up tomorrow. ANZ's local subsidiary is New Zealand's biggest bank, and is most at risk from the Reserve Bank's proposals to hike lenders' capital requirements. The dual-listed shares decreased 0.2 percent to $28.74 today.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
