20 Apr 2011

Markets claw back losses

1:28 pm on 20 April 2011

The New Zealand stock market has clawed back Tuesday's losses.

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By 12.17pm, The NZX 50 index had risen 17 points, or 0.5%, to 3457 on turnover of $57 million.

Across the Tasman, the ASX200 was also up, rising 35 points or 0.7%, to 4829.

The New Zealand dollar was at 79.09 US cents, 74.94 Australian cents, 48.45 pence, 65.43 yen and 0.5506 euro. The Trade Weighted Index was at 68.60.

Fletcher Building was down 2 cents at $9.03 and Contact Energy was up 5c at $5.85.

Telecom was up 6c to $2.115 after winning a $285 million contract to provide high speed broadband to rural areas, together with Vodafone.

Argosy was down 1c to 75c. Vital Healthcare Management was up 1c to $1.09 after ANZ Bank said it wants to sell the management rights to manage their portfolios back to the two companies.

The Warehouse was up 1c to $3.54 and Pumpkin Patch was down 1c at $1.28.

Sky City Entertainment was up 1c to $3.40 and Sky Network Television was up 5c at $5.80.

Mainfreight was down 3c to $9.26 and Infratil was down 1c at $1.84.