The New Zealand sharemarket ended higher but off its best levels as Asian markets rallied on strong US economic data and relief that Greece moved to seek help for its economy.The benchmark NZX-50 index closed up 4.591 points, or 0.1%, at 3306.252. Turnove
The New Zealand sharemarket ended higher but off its best levels as Asian markets rallied on strong US economic data and relief that Greece moved to seek help for its economy.
The benchmark NZX-50 index closed up 4.591 points, or 0.1%, at 3306.252. Turnover was worth $48 million. There were 47 rises and 33 falls among the 115 stocks traded.
Pumpkin Patch rose 2c to $2.22 after announcing it will open a new chain of stores targeted at the everyday wear end of the children's clothing market.
The company said the move would leverage off existing infrastructure. Brokers said the key issue was whether the new budget label damaged the existing brand. The company said it would have different "hand writing".
"The market is just following on the US market, but is a bit subdued because Australia is not open," said Stephen Wright at ASB Securities.
Among leading shares, Contact Energy was up 2c to $6.24, Telecom lifted 1c to $2.20 and Fletcher Building gained 1c to $8.45.
Auckland Airport was up 1c to $2.02, after reporting a 3.9% rise in international passenger volumes last month compared to a year earlier.
Nuplex lifted 1c to $3.37 and Air NZ rose 2c to $1.39.
Retailer Kirkcaldie & Stains rose 5c to $2.90 after reporting on Friday that first half net profit rose 50.4% to $725,000, despite a 4.2% fall in revenues to $21.96 million.
TrustPower rose 10c to $7.50 and Port of Tauranga rose 10c to $7.00.
The Warehouse rose 7c to $3.89 and Vector rose 4c to $2.19.
NZ Refining eased 5c to $3.70 and Sanford eased 4c to $4.41.
SkyCity eased 6c to $3.22, Mainfreight eased 1c to $6.60 and SouthPort fell 27c to $2.58.
