24 Jan 2012

Little movement on NZ market

1:05 pm on 24 January 2012

The New Zealand stockmarket is little changed on Tuesday, following a slow day on Wellington Anniversary Day.

By 12.25pm, the NZ50 was up 2 points at 3297 on turnover of $22 million.

The Australian 200 index was up 19 points, or almost 0.5%, at 4244.

The New Zealand dollar was trading at 81.1 US cents, 77.15 Australian cents, 52.07 pence, 62.42 yen and 0.6227 euro. The Trade Weighted Index was at 71.74.

Fletcher Building was unchanged at $6.27, Telecom was down 2 cents to $2.19, Chorus was up 4 cents to $3.15 and Contact Energy was down 2 cents to $4.89.

Fisher & Paykel Healthcare was up 2 cents to $2.25, Steel & Tube Holdings was unchanged at $2.21 and Rakon was up 3 cents to 56 cents.

Sanford was up 3 cents to $4.06 and OceanaGold was unchanged at $3.01.

Energy Mad was up 5 cents to 60 cents after cutting its full year earnings forecast on Monday by two thirds.

Comvita was unchanged at $2.45 after succeeding in an appeal against an earlier judgment by courts in Britain to rule one of its patents invalid.