1 Sep 2011

NZ and Australian markets up

4:03 am on 1 September 2011

The New Zealand and Australian markets were slightly up when the markets closed on Wednesday.

The NZX50 index was up 5 points to 3323 on turnover of $97 million.

Across the Tasman, the Australian 200 index was up 4 points at 4274.

At 5.20pm, the New Zealand dollar was trading at 85.38 US cents, 79.87 Australian, 52.35 pence, 65.4 yen and 0.5917 euro. The Trade Weighted Index was at 72.92.

Fletcher Building was up 1 cent to $7.78 and Contact Energy was up 13 cents at $5.40.

Telecom was down 19 cents at $2.54 after the company released more detail about its plans to split into two.

Sky City Entertainment was down 4 cents at $3.36, Sky Network Television was up 1 cent to $5.75, Auckland International Airport was up 1.5 cents at $2.30 and Air New Zealand was up 2 cents to $1.11.

Fisher & Paykel Healthcare was up 4 cents at $2.33 cents and The Warehouse was down 1 cent at $3.43.

Rakon was down 7 cents to 79 cents after saying the volatile and very strong New Zealand dollar is hurting its profitability.