26 Aug 2010

NZ market higher at close

8:12 pm on 26 August 2010

New Zealand's benchmark NZX 50 index rose 12 points, or 0.4%, to 3018 by the close of trade on Thursday.

Fletcher Building was up 4 cents to $7.53 per share, Telecom gained 3c to $2.02 and Contact Energy was down 2c at $5.70.

Sky City Entertainment was unchanged at $2.88, while Sky Network Television was up 2c to $5.07.

Air New Zealand rose 5c to $1.26 after its annual underlying profit fell by a fifth to $92 million and it forecast rising demand.

Auckland International Airport gained 2c to $1.99 following a flat annual underlying profit of $105.1 million.

GPG was up 1c to 65c after making Stg12 million in the six months to June - a turnaround from a restated loss of Stg 24 million in the same period a year ago.

Nuplex gained 20c to $3.15 after a record full-year profit of $64.2 million.

Tourism Holdings was up 2c to 81c after returning to profit, with net income up by 59% to $4.6 million.

New Zealand Oil and Gas was down 1c to $1.18, with the energy explorer's underlying profit, which strips out foreign exchange losses, dropping 75% to $13.8 million.

Pike River Coal was up 2c to 99c after on Wednesday reporting a full-year loss of $39 million.

Skellerup was up 1c to 81c after lifting its annual underlying profit by almost 50% to $14.5 million on Wednesday.

Michael Hill International was up 1c to 69c after the Hill family announced it wanted to increase its stake to 50.1%.

At 5.20pm on Thursday, the New Zealand dollar was trading at 70.3 US, 79.35 Australian, 45.26 pence, 59.61 yen and 0.5534 euro. The Trade Weighted Index stood at 65.95.