The New Zealand sharemarket was flat in early trading, despite optimism in the United States as latest economic data painted an improving picture for US growth.Around 10.15am the benchmark NZX-50 index was up 3.17 points to 3272.39, after yesterday gainin
The New Zealand sharemarket was flat in early trading, despite optimism in the United States as latest economic data painted an improving picture for US growth.
Around 10.15am the benchmark NZX-50 index was up 3.17 points to 3272.39, after yesterday gaining 10.4 points.
Shares in NZ Oil&Gas were down 2c early to 87c, after yesterday's news of a second explosion at Pike River Coal's mine, in which NZOG has a 29 percent shareholding, ending all hope for 29 lost men. NZOG shares had lost 33c on Tuesday after a trading halt was lifted following the first blast at the West Coast mine on Friday.
Shares in retailer The Warehouse lifted 2c early to 375, Trustpower was up 2c to 737, Telecom added 2c to 221, Fletcher Building gained 2c to 808, and Steel&Tube was up 2c to 212, while Fisher&Paykel Healthcare slipped 2c to 293 and Vector fell 5c to 240.
In the US, stock investors put aside worries about global problems, turning to improvement in the labour market and signs consumers are ready to open their wallets ahead of the biggest shopping day of the year, which traditionally kicks off on Black Friday, the day after Thursday's Thanksgiving holiday.
The Dow Jones industrial average shot up 1.4 percent to end unofficially at 11,187.28, the Standard&Poor's 500 Index gained 1.5 percent to finish unofficially at 1198.35, and the Nasdaq Composite Index climbed 1.9 percent to 2543.12.
