More than $1b traded on NZ sharemarket as it rises again
Midday was again the touchpoint for the S&P/NZX 50 to climb higher and the index closed at 13,196.08, up 154.18 points or 1.18% after reaching a morning low of 12,942.66. The index has risen 3.35% in the last two trading days.
The market, in the end, was dominated by massive late trading on the last day of the November quarterly review for the MSCI global indices, with Infratil going into the World Large Cap Index and Spark being removed.
Trading was extended as 335.4 million shares worth $1.93 billion changed hands. Infratil gained 17c to $12.90 on trade worth $1.01b (78.2 million shares) and Spark was down 10.5c or 3.41% to $2.975 on trade worth $540.56 million (181.44 million shares).
Turners Automotive increased 32c or 6.72% to $5.08 after reporting revenue of $208.55m, down 2%, and net profit of $19.3m, up 4%, for the six months ending September. It is paying an interim dividend of 7c a share on January 29.
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