26 May 2010

NZ, Australian markets rise

3:17 pm on 26 May 2010

The New Zealand stock market is up on Wednesday - despite falls on global markets over continued fears about debt problems in Europe.

At 12.15pm, the NZX50 index was up 15 points, or 0.5%, at 3019 on turnover of $16.3 million.

Fletcher Building was up 14 cents to $7.75. Telecom was up 4c to $1.89 after announcing it's considering splitting its network and retail arms and Contact Energy was down 2c at $5.90

Auckland International Airport Ltd was up 2c to $1.85 and Air New Zealand was up 1c to $1.20.

Fisher & Paykel Healthcare was down 5c to $3.35 after strong sales of sleep apnea and respiratory products helped boost its full year profit by 15%. Fisher & Paykel Appliances was unchanged at 58c.

Sky Network Television was unchanged at $4.58 and Sky City Entertainment was down 1c to $2.88.

Nuplex was down 2c to $2.97, NZ Oil & Gas was down 2c to $1.38, Pike River Coal was down 2c to 99c and New Zealand Refining was down 1c to $3.32.

Across the Tasman, the ASX 200 index was up 87 points, or 2%, to 4351.

At 12.15pm, the New Zealand dollar was trading at 66.80 US cents, 81.02 Australian cents, 46.45 pence, 60.30 yen and 0.5425 euro. The Trade Weighted Index was at 65.11.