17 Aug 2011

NZ and Australian markets up

7:07 pm on 17 August 2011

Both the New Zealand and Australian stock markets were up when they closed on Wednesday.

The benchmark NZX50 index rose 16 points, or 0.5%, to close at 3290 on turnover of $89 million on Thursday.

Across the Tasman, the Australian 200 index is up 69 points, or 1.6% at 4316.

The New Zealand dollar was trading at 83.44 US cents, 79.55 Australian cents, 50.79 pence, 64.02 yen, 0.5793 euro and the Trade Weighted Index stands at 71.59.

Fletcher Building closed up 13 cents to $7.86 after posting an increased annual profit despite tough trading conditions.

Telecom was up 2.5 cents to $2.65, Contact Energy was up 3 cents at $5.02.

Sky City Entertainment was up 3 cents to $3.54 after boosting its underlying profit by 4%, with Auckland gaming revenues growing strongly.

Fisher & Paykel Healthcare was up 2 cents to $2.34.

The Warehouse remained unchanged at $3.40, Briscoe Group was down 4 cents to $1.35.

Cavotec was up 14 cents at $2.79 after buying the US firm INET.

Freightways was up 10 cents to $3.30, Mainfreight was down 3 cents to $10.17.

Xero was up 5 cents at $2.55 and Argosy Property Trust was down 3 cents to 77 cents.