Sharemarket up early after more Wall St gains

New Zealand’s sharemarket has started strongly after a third straight day of gains on Wall Street.

At about 11am the benchmark NZX50 index was up 27.587 points to 2519.211, a 1.1% gain.

Most major stocks are up, with Telecom rising 5c to $2.40, Contact Energy gaining 8c to move to $5.68 and Fletcher Building moving up 7c to $5.38.

NZX is up 13c to $5.75, Rakon is up 7c to $1.04, and TelstraClear is up 15c to $4.10.

Sky Television and Sky City are both up 4c, to $3.85 and $2.70 respectively.

The market has reacted positively to the Warehouse’s half-year profit announcement, with shares in the retailer up 5c to $3.50.

Stocks making losses early on include Air New Zealand, down 2c to 84c, Port of Tauranga, down 1c to $5.15, Tower, down 1c to $1.33, and Westpac, down 5c to $21.

Yesterday’s relatively small cut in the Official Cash Rate, which dropped it 50 basis points to 3%, has had a positive effect on the New Zealand dollar, which is currently trading at just over US52c.

 

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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7977 0.0012 0.15%
AUD 0.9075 -0.0005 -0.06%
EUR 0.6268 0.0003 0.05%
GBP 0.4948 0.0005 0.10%
HKD 6.1875 0.0094 0.15%
JPY 85.2720 0.0330 0.04%

Commods

Commodity Price Change Time
Gold Index 1248.5 4.340 2014-10-21T00:
Oil Brent 86.2 0.820 2014-10-21T00:
Oil Nymex 82.5 -0.260 2014-10-21T00:
Silver Index 17.5 0.190 2014-10-21T00:

Indices

Symbol Open High Last %
NZX 50 5233.1 5284.3 5233.1 0.89%
NASDAQ 4359.2 4419.5 4316.1 2.40%
DAX 8693.1 8889.8 8717.8 1.94%
DJI 16406.0 16620.8 16399.7 1.31%
FTSE 6267.1 6372.3 6267.1 1.68%
HKSE 23300.5 23460.8 23088.6 1.45%
NI225 15038.2 15160.5 14804.3 2.31%