New Zealand shares edged up, with international index changes boosting turnover. Trustpower, Xero and Argosy Property gained.
The S&P/NZX50 Index rose 6.95 points, or 0.1 per cent, to 7418.9. Within the index, 31 stocks rose, 11 fell and eight were unchanged. Turnover was $270 million.
David Price, director of institutional equities at Forsyth Barr, said volumes had been pumped up by changes to MSCI indices but generally volumes had been weak, and the index was looking flat on the day without a great deal of news to drive it forward.
"Australian ownership in the market is running at an all-time high," Price said. "The Aussies continue to buy our market, they like it - they see the economics and if you look at how their market has performed, for the month to date they're down 4.5 per cent and we just continue to whirr on. They tend to buy the bigger stuff - [Fisher & Paykel] Healthcare and A2 being popular, and it's no coincidence those two have performed pretty well."
F&P Healthcare gained 0.3 per cent to $10.70 and A2 gained 0.3 per cent to $3.38.