Leading shares Fletcher Building and Contact Energy reversed yesterday's losses in early trade, after a bounce back by equities in the United States.Around 10.15am the benchmark NZX-50 index was up 12.33 points to 3255.34, after yesterday losing 14.9 poin
Leading shares Fletcher Building and Contact Energy reversed yesterday's losses in early trade, after a bounce back by equities in the United States.
Around 10.15am the benchmark NZX-50 index was up 12.33 points to 3255.34, after yesterday losing 14.9 points.
Fletcher Building gained 9c to 822 early after ending down 7c yesterday, while Contact Energy was up 4c to 576 after yesterday's 2c lost.
Restaurant Brands added to yesterday's 6c gain with another 3c lift, taking it to 261. Yesterday the company reported a 50 percent rise in first half net profit, excluding non-trading items, to $13.9 million.
Among shares gaining 2c early were retailer The Warehouse, to 395, Sky City to 295, Rakon to 126, Port of Tauranga to 729, Nuplex to 331, Methven to 175, and Air NZ to 133. Metlifecare, holding its annual meeting today, gained 5c early to 225.
The rebound in the US came as a fall in the greenback spurred buying in industrial and commodity-linked shares, while another batch of strong corporate earnings added to gains.
The Dow Jones industrial average gained 1.2 percent to 11,107.97, the Standard&Poor's 500 Index rose 1.1 percent to 1178.17, and the Nasdaq Composite Index added 0.8 percent to 2457.39.
