Fonterra Shareholders’ Fund reaches $6 per share

Fonterra Shareholders' Fund has reached a significant milestone, hitting $6 a share for the first time in seven years. This increase is largely due to strong prices for milk and good dividends in the dairy industry. On a quieter day for the New Zealand sharemarket, the S&P/NZX 50 Index opened positively but closed only slightly higher at 12,128.21. The index gained 14.67 points, or 0.12%. Trading volumes were lower, with around 28.93 million shares trading hands, valued at $98.1 million. Mark Lister, an investment director at Craigs Investment Partners, noted that the market had previously experienced a tough week while other markets bounced back. He mentioned that the local market faced a five-week losing streak, the longest since late 2023. Despite a better-than-expected Gross Domestic Product report for the December quarter, there is still caution among investors. Many feel the economy has not fully recovered yet.