23 Aug 2010

NZ market higher

10:33 pm on 23 August 2010

The New Zealand sharemarket rose 16 points to 3017 by the close of trade on Monday on turnover of $47 million.

Fletcher Building was up 10 cents to $7.40 a share, Telecom gained 4c to $2.07 and Contact Energy fell 3c to $5.75.

Sky City Entertainment gained 7c to $2.92 and Sky Network Television rose 9c to $4.98.

Air New Zealand was up 3c to $1.22, while The Warehouse gained 3c to $3.54.

Mainfreight was unchanged at $6.70 and Freightways rose 3c to $2.88.

Allied Farmers was unchanged at 2.6c after finance arm Allied Nationwide Finance was placed in receivership on Friday.

New Zealand Farming Systems Uruguay was unchanged at 63c after it narrowed its full-year operating loss and telling investors to reject a 55c-a-share offer from Olam International.

Fisher and Paykel Appliances was up 1c to 52c after telling investors at its annual meeting it is becoming increasingly worried about further deterioration in its key markets.

At 5.20pm on Monday the New Zealand dollar was trading at 70.64 US, 79.23 Australian, 45.4 pence, 60.34 yen and 0.5557 euro. The Trade Weighted Index stood at 66.23.