17 Dec 2008

New Zealand share market up slightly

9:06 pm on 17 December 2008

The NZX 50 index finished up 1 point on Wednesday to close at 2696 on turnover of $70 million.

Fletcher Building finished up 14c to $6.07, Telecom finished down 5c to $2.35 and Contact Energy was up 8c to $6.93. Sky City Entertainment Group was up 4c to $2.86.

Tourism Holdings was down 1c to 60c after selling its 49% stake in InterCity Holdings to its joint venture partner, Intercity Group.

PGG Wrightson was down 7c to $1.53 after issuing a profit warning. The Warehouse up 3c to $3.45.

The dollar was buying 58.01 US cents, 83.35 Australian cents, 37.09 pence, 51.36 yen and 0.4111 euro. The Trade Weighted Index was 55.86.

Across the Tasman, the Australian share market closed slightly higher on Wednesday, but investors ignored a big lead from United States markets, instead taking an axe to some big banks.

The S&P/ASX200 index gained 14.4 points, or 0.4%, to 3570.6 points, while the All Ordinaries index was up 16.1 points, or 0.46%, to 3515.0 points.

On the Sydney Futures Exchange, the December share price index futures contract was down two points to 3553 points on a volume of 133,601 contracts.