21 Sep 2011

Sharemarket up 0.6% on Wednesday

7:47 pm on 21 September 2011

The benchmark NZX50 index rose 18 points, or 0.6%, to close at 3309 on turnover of $65 million on Wednesday.

The three top stocks all gained - Fletcher Building by 6c to $7.46, Telecom by 3c to $2.60 and Contact Energy by 5c to $5.48.

Sky City Entertainment was up 7c to $3.52, Sky Network Television down 2c at $5.30 and Auckland International Airport up 1.5c at $2.295. Fisher and Paykel Healthcare were unchanged at $2.30, while the Warehouse gained 2c to $3.25 and New Zealand Oil and Gas fell 3c to 67c.

Kathmandu was up 1c at $2.20 after reporting a profit of $39.1 million n the year to the end of July, compared with a profit of $9.4 million in the previous year, when it also incurred $16 million in share float costs.

Restaurant Brands stayed at $2.20 after annnouncing its September quarterly sales had fallen by 6.5%. Nuplex put on 4c to close at $3.02, while Mainfreight rose 8c to $9.85, Abano Healthcare 5c to $4.15 and Vector 3c to $2.48.

Port of Tauranga shed 21c, closing at $9.54; Lyttelton Port was down 10c to $2; and NZ Refining dropped 9c to $3.28.

In currency markets, the NZ dollar was at 82.27 US, 80.05 Australian, 52.28 pence, 62.79 yen and 0.5996 euro, with the TWI at 72.02.

In Australia, the All Ordinaries index gained 28.8 points to 4153.60, while the ASX 200 added 31.5 points (0.79%) to close at 4071.80.