15 Nov 2011

Sharemarket rises in Tuesday trading

7:06 pm on 15 November 2011

The stock market closed up on Tuesday, with the benchmark NZX50 index up 7 points or 0.2% at 3317.

Among the major movements: Telecom was up 1 cent at $2.63, Fletcher Building was down 3 cents at $6.40 and Contact Energy gained 2 cents to close at $5.50.

Sky City Entertainment was up 5 cents at $3.49 and Sky Network TV was down 1 cent at $5.37.

Infratil gained 2.5 cents to $1.88 after reporting a 12% rise in after-tax profit to $89 million in the six months to the end of September, compared with the same period a year earlier.

Rakon lost down 7 cents to $0.60 after it made a loss of $259,000 in the six months to the end of September compared with a profit of $5.6 million for the same period in 2010.

Comvita was up 5 cents to $2.85 after it made a half-year profit of $2.2 million compared with a loss in the same period last year.

The Warehouse rose 1 cent to $3.26 and Kathmandu was up 3 cents to $2.63 on the news retail sales volumes jumped 2.2% in the September quarter due to the Rugby World Cup

In currency markets, at 5.20 pm the NZ dollar was at 77.5 US, 76.04 Australian, 48.77 pence, 59.87 yen, and 0.5695 euro. The TWI stood at 68.16.