Solid gains on US and European stock markets appeared to make little early impression on the New Zealand sharemarket, which has managed to edge ahead in early trading.Around 10.15am the benchmark NZX-50 index was up 3.12 points to 3230.72, after losing 19
Solid gains on US and European stock markets appeared to make little early impression on the New Zealand sharemarket, which has managed to edge ahead in early trading.
Around 10.15am the benchmark NZX-50 index was up 3.12 points to 3230.72, after losing 19.5 points yesterday, its sixth decline in the past seven trading days.
Fletcher Building was up 2c to $8.09, having fallen 24c in the past two days, while among other leading shares Telecom slipped 1c to $2.46 on top of yesterday's 7c decline and Contact Energy was unchanged on $6.06.
Steel&Tube fell 5c to $2.85, while 2c falls were recorded early for Property for Industry, to $1.19, ING Property Trust, to 77c and Kiwi Income Property Trust to $1.04.
The main early rise was by dual-listed bank ANZ, up 16c to $29.00.
In the UU, the Dow Jones Industrial Average and the S&P 500 index rose to fresh 15-month closing highs as investors bet a potential Republican victory in Massachusetts' Senate race could stall President Barack Obama's reform agenda.
Preliminary figures put the Dow up 1.1% to finish at 10,725.43, the S&P 500 was up 1.3% to 1150.23 and the Nasdaq Composite Index was up 1.4% to 2320.40.
In Europe, the pan-European FTSEurofirst 300 closed 0.8% higher at its highest closing level in 15 months, boosted by drugmakers, while Cadbury hit record highs after the firm accepted a $US19.6 billion takeover offer from Kraft Foods.
