24 Aug 2010

NZ sharemarket makes slight gain

10:41 pm on 24 August 2010

The New Zealand sharemarket's benchmark NZX50 index rose 8 points to 3025 on turnover of $57 million.

Fletcher Building gained 13 cents to $7.53 per share, but Telecom fell 4c to $2.03 and Contact Energy was down 2c at $5.73.

Sky City Entertainment was 3c lower at $2.89, while Sky Network Television rose 12c to $5.10.

Fisher and Paykel Healthcare gained 8c to $2.85. Retailer The Warehouse was unchanged at $3.54.

New Zealand Farming Systems Uruguay was up 7c to 70c after Singapore company Olam International increased its bid to 70c a share for full control. Rival bidder Agricultural Union Group has offered 60c a share.

Drinks manufacturer Charlie's rose 1c to 10c after posting a record profit of $2.5 million for the year to June.

Allied Farmers up 0.2c to 2.8c after subsidiary Allied Nationwide Finance was placed in receivership on Friday.

At 5.20pm on Tuesday, the New Zealand dollar was trading at 70.26 US, 79.25 Australian, 45.57 pence, 59.74 yen and 0.5564 euro. The Trade Weighted Index stood at 66.07.