New Zealand shares rose yesterday as another consumer confidence survey showed improving sentiment, especially in Auckland, even as Australian jobs data disappointed financial markets.
The NZX 50 rose 27.58 points, or 0.66 per cent, to 4196.81, closing on a 1000 point gain in the last 12 months. On the same day last year, the NZX 50 stood at 3234.805. Within the index 22 stocks rose, 15 fell, and 13 were unchanged.
The biggest gain of the day went to Warehouse Group, up 3.23 per cent to $3.20, while heavyweight Fletcher Building was up 2.47 per cent to $9.11, having risen more than a dollar over the last six weeks and showing a 20.65 per cent gain over the last three months on the back of improving economic sentiment.
However, Rob Mercer of broking firm Forsyth Barr warned that while Fletcher's earnings outlook was undoubtedly improving, "it's still a challenging market".