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Hot Topic NBR Focus: GMO
Hot Topic NBR Focus: GMO
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New Zealand sharemarket up; Aussie market down


UPDATED 1pm: Australian stock exchange down, New Zealand market up.

Niko Kloeten
Tue, 16 Aug 2011

UPDATED 1pm: The Australian stock exchange has moved in the opposite direction to its New Zealand counterpart, down 0.6% an hour and a half into trading.

The S&P/ASX 200 index has fallen 24.4 points to 4258.5, on more than $A1.5 billion worth of trading so far.

Banking giant Westpac has taken a tumble after today’s results announcement for the June quarter, falling 4.7%, down 99Ac to $A20.18.

Other bank stocks are also down, BNZ parent NAB dropping 1.2% (29Ac) to $A23.28, ASB’s parent CBA down 1.6% (78Ac) to $A46.60, and ANZ down 1.9% (39.5Ac) to $A20.255.

The NZX has risen 0.57%, up 18.64 points to 3271.274.


 The NZX 50 has started the day up 1%, rising 31.84 points to 3,284.469.

The rise follows Wall Street's positive performance on news of Google's purchase of Motorola.

Financial stocks have performed strongly so far, with Heartland New Zealand up 2c (3.4%) to $60c, Westpac up 85c (3.3%) to $26.90 and AMP up 13c (2.6%) to $5.20.

ANZ has also risen, up 50c (1.9%) to $26.10.

A handful of stocks have fallen, including Restaurant Brands, down 4c (1.7%) to $2.33 and Rakon, down 1c (1.1%) to 88c.

Niko Kloeten
Tue, 16 Aug 2011
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New Zealand sharemarket up; Aussie market down
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