The New Zealand sharemarket made early gains as Telecom gained 1 percent to lift its share price off yesterday's record closing low.By 10.15am the benchmark NZX-50 index was up 7.33 points to 3031.43, after underperforming against other markets yesterday
The New Zealand sharemarket made early gains as Telecom gained 1 percent to lift its share price off yesterday's record closing low.
By 10.15am the benchmark NZX-50 index was up 7.33 points to 3031.43, after underperforming against other markets yesterday when it closed up 5.2 points.
After yesterday dropping as low as 182, Telecom's share price was early today up 2c to 185 from the closing price of 183.
The Warehouse was up 3c to 356, Contact Energy gained 3c to 580, Trustpower lifted 2c to 720, Sky City was up 2c to 287, NZ Oil&Gas gained 2c to 138, and Auckland Airport lifted 2c to 188.
Shares falling early included Sky TV, down 3c to 457, Fletcher Building down 2c to 818, and NZX down 2c to 156.
In the United States, stocks were led higher by a late-day surge in technology shares as investors geared up for a strong unemployment report tonight (NZT).
Stocks seesawed throughout the session, shifting between optimism and pessimism on a variety of factors, including technical resistance at the S&P 200-day moving average, the euro's weakness, and supportive labour market data.
The Dow Jones industrial average edged up 0.1 percent to end at 10,255.28, the Standard&Poor's 500 Index added 0.4 percent to 1102.83, and the Nasdaq Composite Index rose 1 percent to 2303.03.
