New Zealand Stock Markets
New Zealand shares traded quietly in a truncated final session before Christmas, rising in light volume.
The S&P/NZX50 Index rose 31.99 points, or 0.4 per cent, to 8396.43.
Within the S&P/NZX50 Index, 30 shares gained, 11 fell and 9 were unchanged. Turnover was $46 million.
Trading was shortened by four hours on Friday with the market closing at 1pm and settling at 1.30pm.
Hamilton Hindin Greene investment advisor James Smalley said trading was "as you'd expect - pretty quiet and lacklustre at the moment".
Tourism Holdings led the index higher, up 2.7 per cent to $5.65, while Kiwi Property Group was the worst performer, dropping 1.8 per cent to $1.38.
Speaking ahead of the Australian market opening at midday, Mr Smalley said the local index may see volumes rise when the ASX began trading but as there was only an hour of overlap, he didn't expect volumes to increase significantly.
Meridian Energy dipped 0.3 per cent to $2.93.
It has agreed to buy Trustpower's Australian hydro-electric generation assets, which it says will support an expanding retail business across the Tasman.
Outside the benchmark index, Smiths City Group dropped 1.7 per cent to 58 cents.
It posted a 5 per cent fall in revenue and only just broke even in the first half of the 2018 financial year as economic concerns weighed on consumer appetites.
Revenue dropped to $108.6m from $113.9m in the six months to October 31, with profit at just $2000, compared to $1.5m a year earlier.
The S&P/NZX50 Index rose 31.99 points, or 0.4 per cent, to 8396.43.
Within the S&P/NZX50 Index, 30 shares gained, 11 fell and 9 were unchanged. Turnover was $46 million.
Trading was shortened by four hours on Friday with the market closing at 1pm and settling at 1.30pm.
Hamilton Hindin Greene investment advisor James Smalley said trading was "as you'd expect - pretty quiet and lacklustre at the moment".
Tourism Holdings led the index higher, up 2.7 per cent to $5.65, while Kiwi Property Group was the worst performer, dropping 1.8 per cent to $1.38.
Speaking ahead of the Australian market opening at midday, Mr Smalley said the local index may see volumes rise when the ASX began trading but as there was only an hour of overlap, he didn't expect volumes to increase significantly.
Meridian Energy dipped 0.3 per cent to $2.93.
It has agreed to buy Trustpower's Australian hydro-electric generation assets, which it says will support an expanding retail business across the Tasman.
Outside the benchmark index, Smiths City Group dropped 1.7 per cent to 58 cents.
It posted a 5 per cent fall in revenue and only just broke even in the first half of the 2018 financial year as economic concerns weighed on consumer appetites.
Revenue dropped to $108.6m from $113.9m in the six months to October 31, with profit at just $2000, compared to $1.5m a year earlier.
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