Market commentaries

AUCKLAND: New Zealand shares rose as investors continued to be cheered by positive markets offshore and expectations for progress in trade talks between the US and China. Pushpay continued to rise.

The S&P/NZX 50 index increased 15.11 points, or 0.2%, to 8821.15. Within the index, 26 stocks gained, 15 fell and nine were unchanged. Turnover was low, at $76.6 million.

Sentiment got a lift after US stocks rose for a second day, the Dow Jones Industrial Average lifting 0.4%, the S&P 500 adding 0.7% and the Nasdaq Composite gaining 1.3%.

‘‘The market is firmer. It’s another reasonable day after Wall Street had another reasonable night last night,’’ Grant Williamson at Hamilton Hindin Greene said.

He noted, however, that trading was tepid as many market participants are still on holiday.

Pushpay added 0.6% to $3.22 as investors continued to respond positively to news it achieved its target of breaking even on a monthly cash flow basis before the end of 2018. The firm is confident it will now have ongoing positive cash flows and reiterated its fullyear guidance.

A2 Milk shed 0.6% to $11.07 after gaining on some bargainhunting in the previous session. The company announced two new executive positions and ‘‘it’s probably good news that they need to make some new appointments’’, Mr Williamson said.

Ryman Healthcare added 0.5% to $10.89 while fellow retirement village operator Summerset added 1.9% to $6.3%.

Mr Williamson said the stocks had shown quite a bit of weakness in recent months.

‘‘I think we are just seeing some bargainhunting there.’’

Among retailers, Kathmandu fell back out of favour, losing 3.3% to $2.33.

The outdoor equipment retailer lost ground last week after it said the Christmas shopping period fell short of expectations.

Other retailers are expected to start providing Christmas trading updates in the coming weeks. Briscoe Group added 0.3% to $3.31, Hallenstein Glasson was down 0.3% at $4.07 and the Warehouse Group was unchanged at $2.04.

Spark New Zealand was the most heavily traded stock, easing 0.1% to $4.13. About 2.2 million shares changed hands, down from its average volume of 3.1 million over the past three months.

Kiwi Property Group was unchanged at $1.35 and 1.9 million shares were traded, more than the 1.2 million average volume of the past 90 days. Trade Me was the third most heavily traded, unchanged at $6.32. Volumes in that stock, however, were nearly double the average over the past three months, with 1.5 million shares changing hands.

Another day of gains for the Australian sharemarket had traders wondering if the fourmonth downtrend is finally over.

The benchmark S&P/ASX200 index closed up 39.2 points, or 0.69%, to 5722.4 yesterday.

All the major sectors were higher, although gold miners were under pressure.

The broader All Ordinaries was up 38.8 points, or 0.68%, to 5783.3.

The Australian dollar was buying US71.29c, from 71.46c on Monday. — BusinessDesk/AAP