22 Dec 2010

Sharemarkets up three points on Wednesday

7:00 pm on 22 December 2010

The NZX50 index rose three points to close at 3323 on Wednesday on turnover of $42 million.

Fletcher Building gained 2c to $7.79 while Telecom fell 1c to $2.22 and Contact Energy 7c to $6.17 after announcing it has all the approvals it needs to build the Tauhara 2 geothermal development in Taupo.

Four stocks that stayed unchanged were Michael Hill International (88c), New Zealand Oil and Gas (83c), Fisher & Paykel Applicances (54c) and Port of Lyttelton ($2.26 after issuing a profit upgrade for the half-year).

Charlie's Group is up 1.2c to 19.2c after announcing that a large supermarket chain in Hong Kong will trial 24 of its Charlie's and Phoenix Organic drinks in 60 of its 230 high-end stores.

PGG Wrightson rose 1c to 49c, Fisher & Paykel Healthcare 6c to $3.15 and Sky Television 1c to $5.28.

In currency markets the dollar was trading at 74.11 US cents, 74.32 Australian, 48.97 pence, 62.21 yen and .5654 euro, with the TWI at 67.19.

Across the Tasman

The Australian market closed marginally higher on low trading volumes after gains by mining giant BHP Billiton offset weaker performances by the banks.

The benchmark S&P/ASX200 index was up 6.5 points, or 0.14%, at 4778.4, while the broader All Ordinaries index lifted 7.1 points, or 0.15%, to 4869.6.