The New Zealand sharemarket made small gains on a quiet Monday and is likely to remain subdued tomorrow with a long weekend in the US market."It is unusually quiet because it is a holiday in the US again tonight and markets are fairly quiet throughou
The New Zealand sharemarket made small gains on a quiet Monday and is likely to remain subdued tomorrow with a long weekend in the US market.
"It is unusually quiet because it is a holiday in the US again tonight and markets are fairly quiet throughout Asia as well," said James Lee, head of institutional equities at First NZ Capital. "There are just small at the margin moves."
The benchmark NZX-50 index closed up 9.235 points, or 0.3%, at 2947.344, after gaining 4.3 points on Friday.
The shares of market operator NZX rose 10c, or 6.85%, to 156 after the company said it intended to buy back up to 3.571 million shares.
Telecom eased 2c to 182 on a day on which there was speculation final bids are due this week for its AAPT unit.
Contact Energy rose 9c to 582 and Fletcher Building eased 6c to 760.
Guinness Peat Group was unchanged at 65 but there was good volume traded in the stock as investors continue to assess the fallout from its recent boardroom battle.
There was also good volume in APN News shares, but brokers said it was a New Zealand investor trading the shares in the Australian market.
The Warehouse eased 4c to 336, Tourism Holdings rose 3c to 78 and SkyCity rose 5c to 293.
Fisher & Paykel Healthcare rose 6c to 312 and the appliance stock rose 1c to 54. Tourism Holdings rose 3c to 78. Steel & Tube rose 11c to 226 and Pike River Coal rose 3c to 89.
ING Property rose 1c to 67, ING Medical Property rose 2c to 122 and AMP Office Trust rose 1c to 71.
Air NZ fell 1c to 104 and Port of Tauranga fell 1c to 659. Freightways fell 1c to 273 and TrustPower fell 2c to 718. Restaurant Brands fell 4c to 231.
