Early gains for NZ sharemarket
The New Zealand sharemarket built on yesterday's gains in early trading, with Pike River Coal up 5.5 percent after the lifting of a trading halt put in place yesterday ahead of details of a capital raising.
The New Zealand sharemarket built on yesterday's gains in early trading, with Pike River Coal up 5.5 percent after the lifting of a trading halt put in place yesterday ahead of details of a capital raising.
Pike River shares gained 6c to 116, while market leader Fletcher Building also added 6c early to 855 to be within 1c of its highest level in nearly six months reached last Thursday.
Around 10.15am the benchmark NZX-50 index was up 13.05 points to 3306.16, on top of a 10.9-point gain yesterday following Monday's 29-point sell off.
Another market leader, Telecom, gained 2c early to 217, while Contact Energy slipped 1c to 634.
Nuplex added 3c to 325, having gained 10c yesterday after an aggressive sell off on Monday. Sky City added 2c to 323, and NZ Oil&Gas picked up 2c to 156.
In the United States stocks rose as oil prices lifted energy shares and investors were upbeat about the overall profits recovery, even as some high-profile results fell short of lofty expectations.
The Dow Jones industrial average added 0.2 percent to 11,117.06, the Standard&Poor's 500 Index rose 0.8 percent to 1207.17, and the Nasdaq Composite Index gained 0.8 percent to 2500.31.
NZPA
Wed, 21 Apr 2010
Wed, 21 Apr 2010
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Early gains for NZ sharemarket
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