13 May 2011

Trans-Tasman markets up

2:03 pm on 13 May 2011

The New Zealand market was up on Friday morning. At 12:06pm, the NZX50 was up 4 points, or 0.1%, to 3544 on turnover of $62 million.

Fletcher Building was unchanged at $8.96, Telecom was down 2 cents to $2.31 and Contact Energy unchanged at $5.99.

Sky City Entertainment Group was up 3c at $3.76, Sky Television Network was down 1c at $5.74 and Auckland International Airport Ltd was down 0.5c at $2.29.

The Warehouse was up 2c at $3.71 after third quarter sales rose 1.4% to $381 million.

Air New Zealand was up 1c to $1.14 while Methven was down 2c at $1.43.

New Zealand Oil & Gas was up 1c at 96c and Infratil was up 2c at $1.93. New Zealand Refining Ltd was down 5c at $4.55.

Restaurant Brands was up 2c at $2.50.

Kermadec Property Fund was up 2c to 63c after making a full year distributable profit of $3.84 million, 13% more than a year earlier, as it cut costs.

Nuplex was up 3c to $3.11 after forecasting a surplus of between $62 - $65 million due to higher raw material costs, weaker demand in Australia, and restructuring costs.

AMP Office Trust was up 1c at 83c after increasing the size and term of its funding arrangements, by securing a new $400 million bank debt facility.

Across the Tasman, the Australian 200 index was up 9 points, or 0.2%, to 4705.

The New Zealand dollar was trading at 79.32 US cents, 74.49 Australian cent, 48.81 pence, 64.28 yen and 0.5582 euro. The Trade Weighted Index was at 68.69.