Positive trade for NZ and Aus stock markets
Australian and New Zealand stock markets in positive territory.
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The New Zealand stock market is trading up 1% in early afternoon trade, having gained 33 points to reach 3,303. The local bourse took its lead from overseas markets where Wall St rose sharply.
Nuplex led the gains, trading up 6.43% at $2.45 a share. On Monday the chemical and resins maker Nuplex beat earnings forecasts slightly in its full year result, where net profit rose 3.6% or $2.3 million to $66.5 million.
The Australian market fared slightly better, with the S&P 200 trading up 1.1% at 4221.
Stocks on Wall Street made sharp gains despite another bleak dose of economic data -- and a major earthquake on the east coast of North America.
Investors are increasingly optimistic that Federal Reserve chairman Ben Bernanke will act later this week to spur economic growth.
NBR staff
Wed, 24 Aug 2011
Wed, 24 Aug 2011
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Positive trade for NZ and Aus stock markets
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