7 Nov 2012

NZX 50 index lifts 19 points on Tuesday

6:13 am on 7 November 2012

The NZX 50 index rose 19 points (0.5%) on Tuesday to close to 3928 on total turnover of $103 million.

Auckland Airport's share price rose 3 cents to $2.69, Air New Zealand rose sharply by 4.5 cents to $1.245, and Fletcher Building lifted 13 cents to $7.13.

Infratil - a major stakeholder in Z Energy - rose 2.5 cents to $2.20, Kathmandu rose 1 cent to $1.75, Nuplex rose 5 cents to $2.94, Mainfreight rose 4 cents to $10.64, and Xero rose 5 cents to $5.45.

Prices paid for Rakon's stock lifted 4 cents to 45 cents, after the Auckland-based company announced that it is cutting up to 60 jobs in New Zealand as part of plans to shift production to China.

Stocks unchanged at the close of business included Port of Tauranga ($12.90), and Sky TV ($5.11).

But cornerstone stock Telecom fell 2 cents to $2.375, big insurer Tower fell 2 cents to $1.93, Contact Energy droped 4 cents to $5.31, and Fisher & Paykel Appliances fell 0.5 of a cent to $1.27.

At the close of the business day, the New Zealand dollar was trading at 82.67 US cents, 79.32 Australian cents, 51.69 pence, 66.19 yen, 0.6459 euro and the TWI was at 73.96 points.