Shares in Kathmandu climb higher early
Shares in outdoor clothing and equipment retailer Kathmandu rose to a new high in early trading on the New Zealand sharemarket, which edged higher.
Shares in outdoor clothing and equipment retailer Kathmandu rose to a new high in early trading on the New Zealand sharemarket, which edged higher.
Around 10.15am the benchmark NZX-50 index was up 2.56 points to 3497.68, having fallen 2.75 points yesterday.
Kathmandu shares were up 4c early today to 264, with another retailer, The Warehouse, up 4c early to 375, the highest level since December.
Port of Tauranga gained 3c to 868, Telecom lifted 2.5c to 215, Restaurant Brands rose 2c to 247, Rakon added 2c to 119, and Mainfreight lifted 2c to 924.
Fisher&Paykel Healthcare fell 4c to 303, Trustpower lost 5c to 750, Contact Energy was down 3c to 600, and Sky City fell 3c to 357.
Shares in gold mining company OceanaGold were down 8c to 341, after commodities suffered the biggest one-day loss in two weeks on fears that huge price gains last month had made everything from oil to silver too costly.
Gold fell more than half a percent overnight and about 2 percent off the previous session's record highs of above $US1575 an ounce.
In the United States, stocks fell as investors questioned the sustainability of the market rally in light of fresh worries about earnings growth in coming quarters.
Investors targeted recent top performers, particularly energy shares, which were also hit by falling oil prices.
"We've had a great earnings season, but above that there's not much on the horizon to further gains in stocks," said Peter Jankovskis, co-chief investment officer at OakBrook Investments in Lisle, Illinois.
The Dow Jones industrial average edged up 0.15 points to 12,807.51, the Standard&Poor's 500 fell 0.3 percent to 1356.62, and the Nasdaq Composite Index lost 0.8 percent to 2841.62.
NZPA
Wed, 04 May 2011
Wed, 04 May 2011
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Shares in Kathmandu climb higher early
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