NZ sharemarket flat early
The New Zealand sharemarket was flat in early trading as the reporting season continued with Freightways announcing a 9 percent rise in half year net profit, with a strong second quarter.
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The New Zealand sharemarket was flat in early trading as the reporting season continued with Freightways announcing a 9 percent rise in half year net profit, with a strong second quarter.
Around 10.20am, the benchmark NZX-50 index was up 0.89 points to 3368.33, having edged up 1.6 points on Friday when Telecom lost 3c after reporting tax and regulatory changes had knocked its bottom line.
No trade in Freightways shares was recorded in the first minutes of trading this week, with the stock having closed at 320 on Friday.
Mainfreight gained 3c early today, Xero gained 5c to 265, and Telecom edged up 1c to 217, while Fisher&Paykel Healthcare was down 2c to 306, Abano Healthcare lost 4c to 471, and Fletcher Building eased down 1c to 815.
In the United States, stocks closed out their second straight week of gains on Friday (local time) with a rally sparked after Egyptian President Hosni Mubarak resigned, easing tension around the region for now.
Financials led on the back of the reduced uncertainty, rising throughout the trading day.
The Dow Jones industrial gained 0.4 percent at 12,273.26, the Standard&Poor's 500 Index was up 0.6 percent at 1329.15, and the Nasdaq Composite Index was up 0.7 percent at 2809.44.
For the week, the Dow was up 1.5 percent and both the S&P and Nasdaq were up 1.4 percent.
NZPA
Mon, 14 Feb 2011
Mon, 14 Feb 2011
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NZ sharemarket flat early
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