23 Nov 2011

Markets up on Wednesday

6:44 pm on 23 November 2011

The benchmark NZX50 index rose 16 points, or 0.5% on Wednesday, to end the day at 3269 on turnover of $119 million.

In currency markets, at 5.20pm the NZ dollar was at 74.41 US, 76.17 Australian cents, 47.67 pence, 57.33 yen and 0.5527 euro.

The Trade Weighted Index was at 66.32.

Telecom was down 50 cents at $2.025 after separating from Chorus on the stock exchange.

Chorus was up 31 cents to $3.31 on its first day of trading on the stock exchange.

Fletcher Building was down 1 cent at $5.92 and Contact Energy was up 2 cents at $5.42.

Sky City Entertainment was down 3 cents at $3.42 and Sky Network TV was unchanged at $5.45.

Fisher & Paykel Healthcare was down 3 cents at $2.39 after its profit rose to $28.3 million in the six months to the end of September.

Tourism Holdings was unchanged at 61 cents after saying it plans to cut is fleet of campervans and motorhomes.

Pumkpin Patch was up 5 cents at 70 cents after saying it will continue to cut costs.

Comvita was up 0.5 cent at $3 after independent directors advised shareholders to reject Cerebos' takeover offer, saying it's undervalued.

The Warehouse was down 1 cent at $3.24.