29 May 2009

NZ and Australian markets up

9:58 pm on 29 May 2009

The NZX 50 index rose 42 points, or 1.5% on Friday, to close at 2764 on turnover of $109 million.

Telecom down 1 cent to $2.51, Fletcher Building was up 20c to $6.50 and Contact Energy remained unchanged at $5.72.

Tower was up 11c to $1.68 after announcing its half year profit rose 33% to $26.6 million, on the same period a year ago.

Air New Zealand was unchanged at $1.06 after saying it will cut flights and jobs in response to the economic downturn.

Fisher and Paykel Appliances was up 4c to $1.10.

The Warehouse was up 7c at $3.69.

New Zealand Oil and Gas up 11c to $1.60.

Mainfreight was down 7c to $4.52 after Thursday's flat profit result.

In currency markets: the NZ dollar was trading at 62.75 US cents, 79.59 Australian cents, 39.26 pence, 60.52 yen and 0.4486 euro. The Trade Weighted Index stood at 59.71.

The Australian share market bounced back on Friday driven higher by banking stocks as investors shuffled holdings between the major lenders to accommodate share placements.

At 1615 (AEST), the benchmark S&P/ASX200 index was up 62 points, or 1.65%, at 3,817.7, while the All Ordinaries index gained 58.5 points, or 1.56%, to 3,812.4.

On the Sydney Futures Exchange, the June share price index contract was 76 points higher to 3812 on a volume of 30,113 contracts.

Tokyo markets

Japanese share prices rose 0.75% to close at a new six-month high on Friday thanks to late buying.

The benchmark Nikkei-225 index rose 71.11 points to 9,522.50, the highest finish since October 15.

The broader Topix index of all first section shares firmed 2.31 points, or 0.26%, to 897.91.