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New Zealand shares flat, holidays in Australia and Auckland shrink trade

Published 28/01/2019, 03:49 pm
© Reuters.  New Zealand shares flat, holidays in Australia and Auckland shrink trade
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* Holidays in Australia and Auckland keep investors at bay

* Consumer stocks lead gains (Updates to close) New Zealand shares were little changed in thin trade on Monday as holidays in the commercial hub Auckland and neighbouring Australia kept most investors away.

In a lacklustre session, New Zealand's S&P/NZX 50 index .NZ50 ended 3.97 points higher at 9,114.52. The benchmark closed flat on Friday.

"It is a local anniversary day in the country's biggest city Auckland and the big players are on holiday. Also, we have got the Australia Day observed today and the Australians are very large players in our market. The volumes are very light," said Jeremy Sullivan, investment advisor at Christchurch-based advisor firm Hamilton Hindin Greene.

Consumer non-cyclical stocks led the gains, with dairy firm a2 Milk Company Ltd ATM.NZ rising 0.8 percent, while EBOS Group Ltd EBO.NZ climbed 1.2 percent to its highest since Dec. 4, 2018.

Industrial stocks also advanced, with Auckland International Airport Ltd AIA.NZ strengthening 1.1 percent to its highest since Sept 8, 2016.

However, a fall in the healthcare sector kept the benchmark in check. Medical devices maker Fisher and Paykel Healthcare FPH.NZ slipped 2.1 percent and was the worst performer.

Telecom services provider Spark New Zealand Ltd SPK.NZ declined 0.9 percent.

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