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NZ sharemarket rises, big line in PGG Wrightson trades

The New Zealand sharemarket rose today and turnover was boosted by a big sale of PGG Wrightson shares by Rural Portfolio Investments Securities.The benchmark NZX-50 index closed up 11.863 points, or 0.4%, at 3304.969. Turnover was worth $136.2 million of

NZPA
Wed, 21 Apr 2010

The New Zealand sharemarket rose today and turnover was boosted by a big sale of PGG Wrightson shares by Rural Portfolio Investments Securities.

The benchmark NZX-50 index closed up 11.863 points, or 0.4%, at 3304.969. Turnover was worth $136.2 million of which $27.89m was in PGG Wrightson shares.

A notice to NZX said 48.46 million PGG Wrightson shares were sold at 56c. The shares closed up 3c at 59c.

Pike River Coal rose 4c to 114 after saying it has successfully placed $10 million of shares as part of its $50 million capital raising.

"The institutional placement was done successfully and the market received news of the rights issue relatively well," said Stephen Wright at ASB Securities.

There were 55 rises and 31 falls among the 123 stock traded today.

Air NZ was unchanged at $1.38 on a day in which disrupted services to Europe resumed.

Among the leaders Telecom was unchanged at $2.15, Contact Energy fell 11c to $6.24 and Fletcher Building rose 3c to $8.52. TrustPower fell 3c to $7.47 and Auckland Airport eased 1c to $2.02.

NZ Refining, which has a shareholder meeting tomorrow, eased 3c to $3.80.

Nuplex added another cent to $3.23 to continue a recovery after an aggressive sell off. Sky City added 1c to $3.22, and NZ Oil & Gas picked up 2c to $1.56.

Allied Farmers rose 0.9c to 6.9c and NZ Farming Systems Uruguay fell 1c to 38c.

APN News rose 19c to $3.06. CER Group rose 0.2c to 1.2c after announcing another sale agreement for a business unit.

Postie Plus Group rose 3c to 37c and Tag Pacific fell 5c to 25c.

NZPA
Wed, 21 Apr 2010
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NZ sharemarket rises, big line in PGG Wrightson trades
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