14 Apr 2011

NZ market up, ASX down

2:06 pm on 14 April 2011

The New Zealand sharemarket rose in early trading on Thursday, with the benchmark NZX 50 index up 4 points, or 0.1% to 3460 on turnover of $62 million.

As at 12.20pm, Fletcher Building was down 3 cents at $9.25, Telecom was down 1.5 cents to $1.97, and Contact Energy rose 4 cents to $5.87.

Sky City Entertainment was down 1 cent to $3.45 and Sky Network Television rose 4 cents at $5.83.

The Warehouse rose 2 cents to $3.44, Michael Hill International was unchanged at 89 cents after announcing sales rose in the March quarter and Hallenstein Glasson was up 4 cents to $3.85.

Diligent Board Member Services gained 15 cents to $1.05 after announcing sales totalling $US2.98 million, a rise of 70% in the three months to the end of March.

Tenon was up 10 cents to $1.15, while Vector rose 4 cents to $2.43.

Cavalier was down 4 cents to $3.45 after gaining initial approval from the regulator to buy Wool Services International's scouring business. Wool Services rose 4 cents to 52 cents.

Across the Tasman, the ASX200 was down 19 points to 4892.

In currency markets, the NZ dollar was at 78.84 US, 75.22 Australian, 48.44 pence, 66.01 yen, and 0.5459 euro. The TWI stood at 68.51.