A 2c gain by leading stock Telecom brought a little respectability to the New Zealand sharemarket's early rise.Around 10.15am the benchmark NZX-50 index was up 4.39 points to 3050.11, having fallen 20.9 points yesterday.Telecom's 1.1 percent gain took its
A 2c gain by leading stock Telecom brought a little respectability to the New Zealand sharemarket's early rise.
Around 10.15am the benchmark NZX-50 index was up 4.39 points to 3050.11, having fallen 20.9 points yesterday.
Telecom's 1.1 percent gain took its share price to 188, after yesterday finishing at the bottom of the day's range between 191 and 186.
Shares in dual-listed Westpac rose 54c early to 2920, and Hellaby Holdings gained 3c to 163, Contact Energy lifted 1c to 578 and Fletcher Building slipped 1c to 820.
Early falls included NZ Refining Co down 3c to 312 and The Warehouse dropped 2c to 358.
In the United States, the stock market managed a slender gain after traders shook off disappointing employment and manufacturing reports.
Traders began buying late in the session, although without the vehemence that has marked other final-hour moves in recent weeks.
Investors were looking for safe holdings, a sign that the economy is still uncertain enough for them to hedge their bets.
The Dow Jones industrial average rose 0.2 percent to 10,434.17, the Standard&Poor's 500 index rose 0.1 percent to 1116.04, and the Nasdaq rose 0.1 percent to 2307.16.
