NZ sharemarket recovers after slow start
The New Zealand sharemarket reversed a small decline to start the week in the black, but few stocks made any moves of significance.
The New Zealand sharemarket reversed a small decline to start the week in the black, but few stocks made any moves of significance.
The benchmark NZX-50 index lost a few points as the session kicked off but closed up 6.1 points at 3324.1, nearly making up Friday's 7.8-point loss.
Among the top stocks, Telecom was unchanged at 218, Contact Energy rose a cent to 619, Fletcher Building was flat at 778, and Auckland Airport lost 2c to 222.
Sky City gained 2c to 336, Sky TV was up 5c at 525 and Infratil gained 3c to 194.
Retailers were mixed, after figures were released showing a modest improvement in December spending accompanied by signs of consumer caution.
The Warehouse rose 4c to 343, Hallenstein Glasson lost a cent to 416, Pumpkin Patch gained a cent to 173 and Kathmandu Holdings eased 2c to 180.
Fast food operator Restaurant Brands jumped 6c, or more than 2%, to 268. Also on the rise were Mainfreight, up 4c at 799, Property for Industry, up 3c at 116, and Ebos Group, up 4c at 740.
Dual-listed stocks were largely weaker. Westpac was down 69 at 2880 and ANZ off 34c at 2976, while AMP fell 18c to 677, and Telstra lost 5c to 363.
Australia's S&P/ASX 200 Index was up 5 points, or 0.1%, at 4710, and Japan's Nikkei share average was up a similar amount.
NZPA
Mon, 10 Jan 2011
Mon, 10 Jan 2011
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NZ sharemarket recovers after slow start
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