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Blue chip freight company Mainfreight also helped give the index a boost, gaining 1 per cent to $84.00, continuing its strong run. Fellow freight company Freightways was up 0.08 per cent at $12.67. Freightways has also been a strong performer, its shares gaining 21 per cent in the five months to the end of July. Contact Energy, whose shares rose 22 per cent over that period, was up 0.4 per cent on Wednesday at $8.41. NZ Refining, which rose 82 per cent in that time, jumped 4.8 per cent to 86c.
LAWRENCE SMITH/Stuff
The New Zealand sharemarket got a boost from blue chips and a record high for the S&P 500 Index on Wall Street.
Australian shares rose on Wednesday ahead of data that is expected to show the country's economy continued to grow in the first quarter, with strong commodity prices boosting stocks of local mining and energy companies.
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Prime Minister Jacinda Ardern is facing growing criticism from the business community. Photo / Mark Mitchell
NZ Herald
New Zealand New Zealand equities traded in the red at yesterday s close, with the S&P/NZX 50 finishing the day at 12,281.5 points, a 1.2 per cent fall.
In the headlines were infrastructure company, Infratil Ltd, property manager, Argosy Property Ltd, and travel software provider, Serko Ltd, as all three reported full-year earnings yesterday.
Infratil met expectations, with operating earnings of $399 million falling within the previously guided range of $395 to 415 million. One major downside however, came from underperformance from its Longroad Energy assets, which were negatively affected by the recent Texas power event. Infratil finished the day sliding 0.1 per cent, now priced at $7.30.