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 0.7749 0.0002 0.03%
AUD 0.9522 0.0018 0.19%
EUR 0.6321 -0.0015 -0.24%
GBP 0.4961 0.0004 0.08%
HKD 6.0117 0.0044 0.07%
JPY 92.8990 0.3150 0.34%

Commods

Commodity Price Change Time
Gold Index 1195.4 -2.890 2014-12-19T00:
Oil Brent 61.4 1.580 2014-12-19T00:
Oil Nymex 57.1 2.910 2014-12-19T00:
Silver Index 16.0 0.096 2014-12-19T00:

Indices

Symbol Open High Last %
NZX 50 5527.8 5553.7 5527.8 0.25%
NASDAQ 4752.6 4782.1 4748.4 0.36%
DAX 9827.3 9924.0 9787.0 1.01%
DJI 17778.0 17874.0 17778.2 0.15%
FTSE 6545.3 6620.9 6545.3 0.79%
HKSE 23264.0 23478.9 23116.6 1.26%
NI225 17685.5 17692.6 17621.4 0.08%