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 0.7850 0.0000 0.00%
AUD 0.8924 0.0000 0.00%
EUR 0.6196 0.0000 0.00%
GBP 0.4880 0.0000 0.00%
HKD 6.0917 0.0000 0.00%
JPY 84.8970 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1231.3 2.700 2014-10-24T00:
Oil Brent 86.1 -0.700 2014-10-24T00:
Oil Nymex 81.0 -1.020 2014-10-24T00:
Silver Index 17.1 0.020 2014-10-24T00:

Indices

Symbol Open High Last %
NZX 50 5292.8 5344.4 5292.8 0.77%
NASDAQ 4459.5 4486.3 4452.8 0.69%
DAX 9008.6 9044.9 9047.3 -0.66%
DJI 16677.0 16811.7 16677.9 0.76%
FTSE 6419.1 6419.1 6419.1 -0.47%
HKSE 23311.9 23352.6 23333.2 -0.13%
NI225 15354.4 15377.0 15139.0 1.01%