Flat start for NZ sharemarket
The New Zealand sharemarket was flat in early trading, after nine consecutive days of gains which saw it near a seven-week intraday high yesterday.Action on the market was muted early with the few movements including Sky TV up 4c to 508, Freightways up 3c
The New Zealand sharemarket was flat in early trading, after nine consecutive days of gains which saw it near a seven-week intraday high yesterday.
Action on the market was muted early with the few movements including Sky TV up 4c to 508, Freightways up 3c to 310, Steel&Tube up 2c to 270, and Guinness Peat Group down 2c to 90.
No early trading was recorded for retailer Briscoe Group, leaving it near its year high on $1.35 after reporting an 80.7 percent lift in full year net profit to $21 million, on sales revenue up 7.3 percent to $416.7m.
Postie Plus Group shares were unchanged on 40c after reporting a smaller first half loss of $1.1m, compared to a year earlier, as sales rose.
Around 10.15am the benchmark NZX-50 index was up 0.06 points to 3222.87, having started the day down slightly. Yesterday it was up 8.2 points at the close.
In the United States, technology shares pushed the Nasdaq higher on an otherwise flat day for US stocks, led by BlackBerry maker Research in Motion and Cisco Systems.
The broad S&P 500 finished just below the break-even mark, halting a six-day run-up, while the Nasdaq racked up a fresh 18-month closing high.
The Dow Jones industrial average slipped 0.1 percent, to end unofficially at 10,552.52, the Standard&Poor's 500 Index was off just 0.02 percent at 1138.50. while the Nasdaq Composite Index added 0.3 percent to 2332.21.
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