Radio New Zealand - Te Reo Irirangi o Aotearoa

NZ market rises at end of week

Updated at 5:40 am on 16 June 2012

The NZX 50 index finished the week on a buoyant note, up 31 points (0.9%) at 3447 on turnover of $131 million.

Fletcher Building jumped 14 cents to $6.29, while Telecom rose 7 cents to $2.47, on Friday.

Fisher & Paykel Healthcare rose 5 cents to $2.12, and Sky City Entertainment rose 2 cents at $3.49, Infratil rose 2 cents to $2.01 shortly before it announced a share buy-back at an average price of $1.99.

Port of Tauranga rose 11 cents to $11.15, and Air New Zealand rose 1.5 cents to 86 cents.

Retailers Michael Hill rose 4 cents to $1.06 and Pumpkin Patch lifted 1 cent to 92 cents.

Tourism Holdings rose 4 cents to 60 cents after buying KEA Rentals and Sales' motorhome brands in Australia.

GPG rose 1.4 cents to 47 cents after selling its fourth largest holding, Young and Co Brewery, for about 54 million pounds.

In the energy sector, Australian-controlled Contact Energy rose 9 cents to $4.78, while Vector fell 5 cents to $2.58.

Auckland International Airport fell 0.5 cents to $2.47, and Sky Network TV fell 4 cents to $4.90 as over 2 million shares changed hands.

Trade Me fell 9 cents to $3.56, and Chatham Rock Phosphate - which has applied for 5 prospecting permits in Namibia - fell 1 cent to 24 cents.

At the end of the business day the NZ dollar was buying 78.35 US cents, 78.15 Australian cents, 50.41 pence, 61.85 yen and 0.6199 euro. The Trade Weighted Index was was 70.91.

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