Sharemarket up early after more Wall St gains

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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 0.7526 -0.0012 -0.16%
AUD 0.9613 0.0009 0.09%
EUR 0.6729 0.0005 0.07%
GBP 0.4968 -0.0012 -0.24%
HKD 5.8336 -0.0091 -0.16%
JPY 90.4390 -0.1620 -0.18%

Commods

Commodity Price Change Time
Gold Index 1174.5 -6.010 2015-05-01T00:
Oil Brent 67.8 1.020 2015-05-01T00:
Oil Nymex 60.4 -0.430 2015-05-01T00:
Silver Index 16.1 -0.018 2015-05-01T00:

Indices

Symbol Open High Last %
NZX 50 5791.3 5797.4 5791.3 0.10%
NASDAQ 4966.3 5005.4 4941.4 1.29%
DAX 11440.8 11570.6 11432.7 0.19%
DJI 17859.3 18028.9 17840.5 1.03%
FTSE 6960.6 6995.4 6960.6 0.36%
HKSE 28289.1 28317.9 28400.3 -0.94%
NI225 19510.8 19549.4 19520.0 0.06%