3 Dec 2010

NZ and Australian markets up

1:08 pm on 3 December 2010

The New Zealand sharemarket has risen on Friday. At 12.50pm, the NZX50 index had climbed 13 points, or 0.4%, to 3298 on turnover of $29 million.

Fletcher Building was up 3 cents to $7.90, Telecom was up 2c at $2.17 and Contact Energy was up 3 cents at $6.01 after it was given consent for a $400 million wind farm in southern Hawke's Bay.

Fisher & Paykel Healthcare was up 6c at $7.96 and Fisher & Paykel Appliances unchanged at 56c.

Pike River Coal is on a share trading halt. It last traded at 88 cents. Its 29% owner, NZ Oil & Gas, was up 1c at 91c.

NZX was unchanged at $1.48 after announcing trading on its main board picked up in November.

Kathmandu was up 5 cents to $1.67. Allied Farmers was up 0.10c at 2.3c.

Kiwi Income Property Trust was unchanged at $1 after announcing the purchase of Lynn Mall shopping centre in Auckland on Thursday for $174 million.

Across the Tasman, the Australian 200 index was up 32 points, or 0.7%, to 4708.

The New Zealand dollar was trading at 75.49 US cents, 77.35 Australian cents, 48.41 pence, 63.32 yen and 0.5718 euro. The Trade Weighted Index was at 68.55.