13 Dec 2010

NZ and Australian markets up

1:19 pm on 13 December 2010

the New Zealand stock market was up on Monday morning. At 12.40pm, the NZX 50 index was up 16 points, or 0.5% at 3289 on turnover of $42 million.

Fletcher Building was up 2 cents at $7.84 and Contact Energy was up 1c to $6.16.

Telecom was up 3c to $2.11 after being selected as the preferred bidder to provide a fibre network in 25 of 33 regions, including the Auckland region.

New Zealand Oil & Gas was down 2c at 87c after lifting a trading halt. It owns 29% of Pike River Coal, which announced the appointment of a receiver, PricewaterhouseCoopers.

Pike River Coal is still on a share trading halt. It last traded at 88c.

GPG was unchanged at 70c after founder Sir Ron Brierley stepped down as chairman on Friday

Fisher & Paykel Applicances was up 1c to 58c and Fisher & Paykel Healthcare was down 1c at $3.13.

Pumpkin Patch was up 6c to $1.71 and Sky Television was up 2c at $5.13.

Across the Tasman, the Australian 200 index was up 18 points, or 0.4%, to 4764 in early trading.

The New Zealand dollar was trading at 74.71 US cents, 75.93 Australian cents, 47.31 pence, 62.73 yen and 0.5657 euro. The Trade Weighted Index was at 67.60.