NZX-50 jumps late in day's trading
Leading stocks kicked up against trends in overseas markets and closed 0.4% higher.
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New Zealand's benchmark stock index, the NZX-50, kicked up against trends in overseas markets to close 0.4% higher today at 3556.12 as large-capitalisation stocks bounced.
The NZX-50 ignited and jumped 11 points at mid-afternoon after lifting in early trading and then trundling along in a narrow range. It finished up 14.187 points for the day.
In early trading, infrastructure investor Infratil reported a full-year operating surplus of $173 million compared with $90 million a year earlier. This pushed its share price up 4c or 2.1% to 194, where it closed.
The NZX-50 index gained 8.1 points yesterday and by mid-morning has edged up another 0.22 points to 3544.09.
Cornerstone stock Telecom made good on yesterday's promise -- when it equalled its 14-month high of 235 in intraday trading -- and finished up 2c to 236.5.
Other big rises for the day included OceanaGold, up 4c to 305c, Cavalier Corp, up 8c or 2.2% to 365 and NZ Refining Co up 3c to 456.
Retailer The Warehouse lost 5c to 370 early, Mainfreight finished on par at 935 and Pyne Gould Corp fell 3.2% -- by 1c to 300 -- as nearly five million shares changed hands.
Australian shares also traded flat for large parts of the day, but lifted later in the day, buoyed by the top miners after copper prices continued to rebound.
At the close, the benchmark S&P/ASX200 index was 33.9 points, or 0.7%, higher at 4683.9, while the broader All Ordinaries index gained 28.8 points, or 0.6%, to 4753.
NZPA
Tue, 17 May 2011
Tue, 17 May 2011
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NZX-50 jumps late in day's trading
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