NZ sharemarket flat early
OceanaGold continued its rapid recent rise in early trading after yesterday announcing a 29 percent gain in revenue for the 2010 calendar year to $US305.6 million ($NZ402.8m).
OceanaGold continued its rapid recent rise in early trading after yesterday announcing a 29 percent gain in revenue for the 2010 calendar year to $US305.6 million ($NZ402.8m).
Full year net profit for the Melbourne-based company with gold mines in the South Island was down 18.5 percent to $US44.4m. Earnings before interest, tax, depreciation, amortisation and excluding unrealised hedge losses was $US139.5m in 2010, up from $US106.2m the year before, as a higher average realised gold price was partially offset by lower gold production.
In early trading today OceanaGold shares were up 8c to 408, having risen from 341 at the start of the week.
Sky TV shares gained 9c early to 550, after the company reported a 19 percent rise in half year net profit to $60.3m, as revenue rose 8 percent from a year earlier to $398m.
The company attributed the result to the success of the MY SKY HDi decoder and a rebound in advertising sales.
Around 10.15am the benchmark NZX-50 index was up just 0.01 of a point at 3395.71, having yesterday gaining 11.2 points.
Restaurant Brands gained 3c early to 248, Abano Healthcare was up 5c to 460, while NZ Refining Co fell 15c to 485 on top of a 10c fall yesterday after reporting an improved after tax full year profit of $57.7m.
In the United States, investors piled on a dizzying two-year advance in stocks, using a brief slip on negative economic news as an opportunity to buy into market leaders.
The technology sector showed strength, with Nvidia Corp up 9.8 percent a day after posting a bullish revenue forecast as sales of its processors accelerate.
On preliminary data, the Dow Jones industrial average was up 0.2 percent to 12,318, the Standard&Poor's 500 Index was up 0.3 percent at 1340, and the Nasdaq Composite Index was up 0.2 percent at 2832.
NZPA
Fri, 18 Feb 2011
Fri, 18 Feb 2011
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NZ sharemarket flat early
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