Shares in NZ Refining Co gained a further 6c in early trading to reach a two-month high of 396, as they climbed away from 325 in early March, their lowest level since mid-2005.Telecom shares also pulled a little further away from the historic low of 211 r
Shares in NZ Refining Co gained a further 6c in early trading to reach a two-month high of 396, as they climbed away from 325 in early March, their lowest level since mid-2005.
Telecom shares also pulled a little further away from the historic low of 211 reached on Friday. After gaining 3c yesterday, Telecom shares added another 2c early today to 216.
Retailer The Warehouse gained 5c to 398 after reporting it received bids for more than twice the $100 million issue size of its bond offer.
Around 10.15am the benchmark NZX-50 index was up 3.11 points to 3236.41, after edging up 2.9 points yesterday.
Rakon shares lifted 2c to 98, and Property for Industry was up 2c to 120. Glass Earth Gold shares rose 19c, or more than 300 percent, to 25c, following a share consolidation of one new share for each five existing shares.
Sky City fell 2c early to 336 and Tower was down 2c to 192.
In the United States, stocks rose, building on last week's strength, as the passage of a bill overhauling the healthcare system ended much of the uncertainty about the issue for investors.
While some analysts raised concerns the bill, approved on Sunday, could squeeze company profits and add to costs, they said much of the negative impact was already priced in.
The Dow Jones industrial average was up 0.4 percent at 10,785.89, the Standard&Poor's 500 Index was up 0.5 percent at 1165.81, and the Nasdaq Composite Index was up 0.9 percent at 2395.40.
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