Freightways ousts F&P Appliances from NZX 15 this month

Freightways will replace Fisher & Paykel Appliances in the NZX 15 Index of New Zealand’s biggest companies, reflecting its relative outperformance versus the appliance manufacturer.

The index, used as benchmark by some institutional investors, has climbed 28% from the five-year low it reached on March 3. The broader NZX 50 rose 30% in the same period.

Freightways will join the NZX 15 effective September 21. The shares rose 1.4% to $3.01. F&P Appliances gained 1.3% to 76 cents. 

Businesswire.co.nz

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