16 Sep 2010

NZ market up, Australian down

1:34 pm on 16 September 2010

The New Zealand stock market was up on Thursday morning, despite a technical glitch meant the index could not be calculated for a period.

At 12.32pm, the NZX50 index was up 14 points at 3209 on turnover of $38 million.

Fletcher Building unchanged at $8.35, Contact Energy was up 3 cents to $5.81 and Telecom was up 3c at $2.09.

Fisher & Paykel Appliances was up 1c to 59 cents and Fisher & Paykel Healthcare was unchanged at $2.95.

Tower was up 1c at $1.81. Steel & Tube was down 3c to $2.52

Sky City Entertainment was unchanged at $2.88 after announced it intends to appoint Christchurch director and consultant Sue Suckling as a non-executive director.

Sky Network Television was unchanged at $5.18. NZX was down 1c to $1.61

Pyne Gould Corporation was up 1c to 42c, after its finance arm, Marac, the Canterbury Building Society and the Southern Cross Building Society announced they will merge to form a $2 billion bank and list on the stock exchange.

New Zealand Oil & Gas was down 1c to $1.27. The Warehouse was unchanged at $3.74.

Across the Tasman, the Australian 200 index was down 7 points at 4655.

In currency markets, the NZ dollar was trading at 72.65 US cents, 77.67 Australian cents, 46.52 pence, 62.12 yen and 0.5595 euro. The Trade Weighted Index was at 67.02.