Kathmandu shines in early sharemarket rise
Shares in outdoor clothing and equipment company Kathmandu Holdings rose 5 percent in early trading, after the company announced a strong sales performance in December and this month.
Shares in outdoor clothing and equipment company Kathmandu Holdings rose 5 percent in early trading, after the company announced a strong sales performance in December and this month.
It expected earnings before interest and tax for the six months to the end of January to be 20 to 26 percent ahead of a year earlier.
The 9c rise in Kathmandu shares to 189 was a standout in a solid start to the day by the sharemarket, with the NZX-50 index up 6.42 points to 3350.16 around 10.15am, after it ended yesterday down 10.6 points.
NZ Refining Co rose 12c to 468 early, Auckland Airport gained 3c to 224, NZX was up 2c to 170, Fletcher Building added 2c to 788, and Contact Energy lifted 2c to 636, while Telecom was unchanged on 227.
Freightways lost 4c early to 325, Property for Industry was down 2c to 111, and The Warehouse slipped 2c to 360.
In the United States, stocks gained despite weak Citigroup results and concerns circling Apple after news of chief executive Steve Jobs' medical leave.
The Dow Jones industrial average gained 0.4 percent to end unofficially at 11,837.93, the Standard&Poor's 500 Index rose 0.1 percent to 1295.02, and the Nasdaq Composite Index added 0.4 percent to 2765.85.
NZPA
Wed, 19 Jan 2011
Wed, 19 Jan 2011
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Kathmandu shines in early sharemarket rise
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