19 May 2011

NZ and Australian markets up

1:13 pm on 19 May 2011

The New Zealand sharemarket rose on Thursday morning

At 12:15pm, the NZX50 was up 11 points, to 3570 on turnover of 56 million dollars

Across the Tasman, the Australian 200 index was up 32 points, 0.7%, at 4725

The New Zealand dollar was trading at 78.95 US cents, 74.17 Australian cents, 48.86 pence, 64.57 yen and 0.5537 euro The Trade Weighted Index was at 68.43.

Fletcher Building was up 3 cents at $9.03, Telecom was down 1c to $2.365, and Contact Energy was up 3c at $6.04.

Sky City Entertainment Group was unchanged at $3.70, Sky Television Network was up 2c at $5.75 and Auckland International Airport Ltd was up 2c at $2.30.

Ryman was up 7 cents at $2.69 after reporting an underlying profit of $72 million - up more than 17% on 2010, a record for the company.

Infratil was unchanged at $1.95. Rakon was up 1c to $1.16 after returning to profit on Wednesday, making $8.5 million in the year to the end of March.

Kiwi Income Property Trust was unchanged $1.05 after lifting its full year distributable incomeby 11% to $68.8 million.

Mainfreight was up 2c at $9.48 and NZX was up 8c to $2.44. The Warehouse was up 1c at $3.69.