17 Jul 2009

NZ market flat, Australia up

1:19 pm on 17 July 2009

The New Zealand sharemarket is flat on Friday.

At 12.40pm, the NZX50 index was up 2 points, or 0.1%, at 2803 on turnover of $35 million.

Telecom was up 1 cent at $2.70, Fletcher Building was down 4c to $6.80 and Contact Energy was up 1c at $5.92.

Fisher & Paykel Appliances was up 3c to 70 cents and Fisher & Paykel Healthcare was up 1c to $2.92.

Hallenstein Glasson was down 15c to $2.45. Rakon was down 4c to $1.40, and Pumpkin Patch was down 2c to $1.52.

At 12.40pm on Friday: the New Zealand dollar was trading at 64.69 US cents, 80.60 Australian cents, 39.43 pence, 60.61 yen and 0.4574 euro. The Trade Weighted Index was at 60.75.

The Australian share market opened higher following a fourth consecutive day of gains on Wall Street.

At 10.15am (AEST), the S&P/ASX200 was up 27.1 points, or 0.68%, at 4,022.7, while the All Ordinaries had gained 25.5 points, or 0.64%, to 4013.3 points.

On the Sydney Futures Exchange, the September share price index contract was 13 points higher at 3,988 on 5,344 contracts.

By 10.40am (AEST), overall turnover was 556.9 million shares worth $A726.5 million.

US markets

In New York, the Dow Jones Industrial Average rose 95.61 points, or 1.11%, to settle at 8,711.82.

The Nasdaq added 22.13 points, or 1.19%, to 1,885.03. Standard & Poor's 500 index advanced 8.06 points, or 0.86%, to settle at 940.64.

Volume was moderate on the New York Stock Exchange with 1.18 billion shares changing hands - below last year's estimated daily average of 1.49 billion.

About 2.11 billion shares were traded on the Nasdaq - below last year's daily average of 2.28 billion.