31 Jul 2009

New Zealand market up 36 points

1:14 pm on 31 July 2009

The NZX 50 index was up 36 points, or 1.2%, at lunchtime on Friday to 3030 on turnover of $45 million.

Telecom was up 2 cents to $2.82, Fletcher Building was up 12c to $7.15 and Contact Energy was up 10c to $6.40.

Briscoe Group was up 6c to $1.14 after saying it expected its half-year profit to double to $6 million compared with the same period last year

TrustPower was up 7c to $7.87 after says it was satisfied with the company's trading performance for the year so far.

Pumpkin Patch is up 6 cents to $1.60. Sky Television was up 9c to $4.44.

The dollar was trading at 65.27 US cents, 79.11 Australian cents, 39.55 pence, 62.31 yen and 0.4635 euro. The Trade Weighted Index stands at 61.16.

Across the Tasman, the Australian 200 index was up 26 points, or 0.6%, to 4217 in early trading.

Wall Street

Wall Street stocks jumped as investors took heart in solid corporate profit reports and a drop in the number of Americans on the dole.

The Dow Jones Index closed up 83 points, or almost 1%, to 9154 on Thursday. The Nasdaq Composite closed up 16 points, or 0.8%, to 1984.