1 Nov 2011

NZ markets close higher on Monday

11:30 am on 1 November 2011

The benchmark NZX50 index closed up 7 points, or 0.2%, to 3332 at end of trade on Monday.

In currency markets, at 5.20pm the NZ dollar is at 80.95 US, 76.92 Australian, 50.68 pence, 64.11 yen, 0.5779 euro, and the Trade Weighted Index stands at 70.37.

Telecom was up 0.5c to $2.535, Fletcher Building fell 6c to $6.65 and Contact Energy was down 3c to $5.60.

Sky City Entertainment rose 4c to $3.54 and Sky Network TV 5c to $5.50, while Air New Zealand was unchanged at $1.05 and Auckland Airport gained 2.5c to $2.35.

Mainfreight was up 2c to $9.75 and Nuplex down 2c to $2.61.

NZX was down 2c to $2.34; its third-quarter revenue rose by almost 14%.

Property for Industry rose 2c to $1.17. It made $11.7 million in the nine months to the end of September, 9.5% less than the same period last year.

AWF Group was up 12c to $2.05. It made $1.73 million in the six months to September, a decrease of 1% on the same period a year ago, due to one-off costs from recent acquisitions. But it says demand for temporary staff remains strong.

Trustpower rose 8c to $7.25. Its profit rose 18% to $75.6 million in the six months to the end of September, compared with the same period last year.

Vector rose 4c to $2.59. Thousands of businesses whose gas had been cut off since Tuesday after a crack was found in the Maui gas pipeline were allowed to reconnect on Sunday.

The Warehouse was up 3 cents to $3.37 - it is teaming up with insurer Sovereign to offer life insurance online.