NZ sharemarket ends week on strong footing
Sky TV and Abano Healthcare led the advance with stunning gains.
The New Zealand sharemarket ended the week on a strong footing after stunning gains from stocks including Sky TV and Abano Healthcare.
Sky TV shares gained 17c to 558, after the company reported a 19% rise in half year net profit to $60.3 million, as revenue rose 8% from a year earlier to $398 million.
The company attributed the result to the success of the MY SKY HDi decoder and a rebound in advertising sales.
The benchmark NZX-50 index was up 17 points, or just over 5%, closing at 3412.739 after rising 11.2 points the day before.
In early trading today OceanaGold shares were up 8c to 408, having risen from 341 at the start of the week, but by 5pm it had lost 15c to settle at 385.
OceanaGold yesterday reported a 29% gain in revenue for the 2010 calendar year to $US305.6 million ($NZ402.8 million). Full year net profit for the Melbourne-based company with gold mines in the South Island was down 18.5% to $US44.4 million.
Specialist health care clinic investor Abano Healthcare added 10c, or 2.2%, to 465, Nuplex added 9c to 375 and Restaurant Brands gained 2c to 247.
NZ Refining Co fell 14c to 486 on top of a 10c fall yesterday after reporting an improved after tax full year profit of $57.7 million.
Telecom gained 2c to 225. Contact added 3c to 625 and Fletcher Building rose 5c to close at 839.
Meanwhile, Manfreight added 4c to 819, Sanford lost 7c to 493, Vector eased 3c to 251 and Freightway fell 3c to 332.
NZPA
Fri, 18 Feb 2011
Fri, 18 Feb 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
NZ sharemarket ends week on strong footing
12469