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 0.7867 0.0036 0.46%
AUD 0.9204 0.0056 0.61%
EUR 0.6291 0.0015 0.24%
GBP 0.4981 -0.0001 -0.02%
HKD 6.1001 0.0271 0.45%
JPY 92.5980 0.3400 0.37%

Commods

Commodity Price Change Time
Gold Index 1197.1 3.900 2014-11-25T00:
Oil Brent 80.1 -0.140 2014-11-25T00:
Oil Nymex 74.1 -1.660 2014-11-25T00:
Silver Index 16.6 0.170 2014-11-25T00:

Indices

Symbol Open High Last %
NZX 50 5457.4 5462.1 5457.4 0.01%
NASDAQ 4760.2 4788.0 4758.3 0.61%
DAX 9894.6 9942.7 9861.2 0.55%
DJI 17812.2 17833.8 17814.9 0.07%
FTSE 6731.1 6765.0 6731.1 -0.03%
HKSE 23833.2 24176.6 23843.9 1.12%
NI225 17348.0 17432.6 17407.6 -0.14%