NZ shares snap decline as F&P Healthcare surges on upbeat outlook
The S&P/NZX 50 Index climbed 60.64 points, or 0.5%, to 12,529.99, paring its loss for the week to 1.6%. Across the main board, 58 stocks rose, 71 fell, and 50 were unchanged. Turnover was $117.5 million, with F&P Healthcare accounting for $24.1m, while nine stocks traded on volumes of more than a million shares.
F&P, Spark and Fletcher
F&P Healthcare led the NZX50 as it surged 10.3% to $35.40, its first double-digit daily gain since March 24, and has advanced 51.2% so far this year. The medical products maker said first-half profit was forecast to rise by as much as 49%, with strong growth across all products and regions. It also raised its annual profit forecast range.
“The market is pretty quick to punish and reward results at the moment and is relatively volatile,” Jeremy Sullivan, an investment adviser at Hamilton Hindin Greene, said.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[Weekly Wrap] KiwiSaver in play; but outcome unclear](https://goodreturns.publit.io/file/c_fill,w_300,h_200/0ad582e4-c9a3-4692-bbe2-62d928f77fd2.jpg)
