NZ sharemarket follows US lead
The New Zealand sharemarket rose today after receiving a positive lead from Wall Street on Friday.
Hot Topic
Budget 25
The New Zealand sharemarket rose today after receiving a positive lead from the United States market on Friday, while weaker than expected inflation data caused the New Zealand dollar to fall.
The benchmark NZX-50 index rose 12.486 points, or 0.4%, at 3465.171. Turnover was worth $72.9 million. There were 33 rises and 43 falls among the 112 stocks traded.
Asian markets were mixed as investors continued to wait on US companies to report first quarter results.
An insight in how the New Zealand economy was travelling was released in Australia when Woolworths said its New Zealand sales rose 3% in the 13 weeks to April 3.
The owner of Countdown supermarkets said the New Zealand economy remained challenging and the Christchurch earthquake had had an adverse impact on its business.
The NZ dollar fell today when the Consumer Price Index for the March quarter was lower than expected, but analysts continue to assess the chances of an eventual test of its post-float high of US82.13c.
Telecom rose 8.5c to 206.5 on a day it outlined a plan to trim its senior executive team and said its binding bid to be a partner for the bulk of the government's ultrafast broadband initiative has been made.
OceanaGold Corp rose 7c to 384, Scott Technology rose 5c to 140, and Sanford rose 9c to 560.
Rakon rose 1c to 120. Air NZ rose 1c to 112 and Auckland Airport rose 3.5c to 222. Contact Energy rose 2c to 582.
Fletcher Building eased 4c to 914. NZ Refining Co was down 10c to 460, Sky TV fell 3c to 575 and Xero fell 5c to 248.
NZPA
Mon, 18 Apr 2011
Mon, 18 Apr 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
NZ sharemarket follows US lead
13985