Renewable electricity news drives NZX 50 move

The S&P/NZX 50 Index rose 24.64 points, or 0.2 percent, to 12,656.02. Within the index, 23 stocks rose, 24 fell and three were unchanged. Turnover was $185.5 million.

On Friday, a US employment data release was twice as weak as had been forecast. While that would traditionally be cause for concern, US equities instead climbed to new records as it was interpreted as increasing the chance lawmakers would pass a fiscal stimulus bill.

In this covid era, it seems good news is good news and bad news is good news as well. 

NZ shares followed the lead from Wall Street, leaping almost 1 percent when trading began, waning through the day to close up just 0.2 percent.