NZ shares edge up as market positivity continues
The S&P/NZX 50 index rose 45 points, or 0.4%, to 12,197.15. Across the main board, 47 stocks fell and 77 rose. Turnover was $112.5 million.
The annual sales update of retailer Briscoes was the big news on the index today, Hobson Wealth Partners director Brad Gordon told BusinessDesk.
“Briscoes was a really strong update, considering the macro conditions that they've been facing in the last year, and the share price reacted positively,” he said. “But I guess you almost have to wonder whether that's the worst of the macro that they'll face.”
Briscoe Group reported full-year sales of $785.9m, up 5.6% on the previous year, with almost a fifth coming through online channels.
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