2 Dec 2010

NZ and Australian markets up

1:08 pm on 2 December 2010

The New Zealand sharemarket has risen on Thursday. The NZX50 index climbed 13 points to 3278 on turnover of $22.8 million.

Fletcher Building was up 3 cents to $7.90 and Telecom was up 2c at $2.17.

Contact Energy was up 3c at $6.01 after it was given consent for a $400 million wind farm in southern Hawke's Bay.

Fisher & Paykel Healthcare was up 7c at $3.06 and Fisher & Paykel Appliances was down 1c at 55c.

Pike River Coal is on a share trading halt. It last traded at 88c. Its 29% owner, NZ Oil & Gas, is unchanged at 90c.

Allied Farmers was unchanged at 2.3c.

Kiwi Income Property Trust was down 1c to 99c after buying the Lynn Mall shopping centre in Auckland for $174 million.

Across the Tasman, the Australian 200 index was up 63 points, or 1.3%, to 4651.

The New Zealand dollar was trading at 74.84 US cents, 77.47 Australian cents, 47.97 pence, 62.04 yen and 0.5704 euro. The Trade Weighted Index was at 68.25.