On Wednesday, there was a slight increase in the New Zealand shares, which was motivated by the gain exhibited by Fletcher Building after posting its annual earnings.

The benchmark NZX-50 closed up 0.4% or 12 points at 3018.18. The share price of Fletcher Building climbed up 2.2% and settled at NZ$7.34, after the Company declared its annual profit of NZ$272 million, a robust rise, as compared to last year’s loss of NZ$46 million.

The optimism regarding the market also boosted Telecom, which gained 0.5%, reaching NZ$2.08. The share price of Fisher & Paykel Healthcare also added 1.1% to NZ$2.83.

Grant Williamson, Director at Hamilton, Hindin, Greene, said, “Some investors had been fearing the worst going into the result so were pleasantly surprised when it was in line with expectations”.

There was a rise of 1.6% in shares of NZ Farming Systems Uruguay, bringing it to NZ$0.63, which also added to the NZ-50 index

Despite posting higher profits for the full year, Sky City, the casino operator, lost 0.4% and closed at NZ$2.88. Allied Farmers advanced 2.8c.

TrustPower climbed up 2c to 717, Mainfreight increased 1c to 651 and Restaurant Brands went up 4c to 250.

The New Zealand stock exchange will continue to be impacted by the foreign markets. Other than that, the drive in the stock exchange will be propelled by the financial results of the Companies and their forecasts, as expressed by brokers.