Telecom made a small gain when the New Zealand sharemarket opened slightly easier today restoring its troubled XT mobile network up and running again.The benchmark NZX50 index was down 5.2 points or 0.2% to 3159.4 in the first 15 minutes of trading, which
Telecom made a small gain when the New Zealand sharemarket opened slightly easier today restoring its troubled XT mobile network up and running again.
The benchmark NZX50 index was down 5.2 points or 0.2% to 3159.4 in the first 15 minutes of trading, which was affected by the Auckland anniversary holiday.
Telecom, which shed 6c on Thursday and Friday, was up 1c to $2.39, as customers and the market await word this week on a compensation package for the XT failure.
Details of a review of the system's problems are also expected to be released.
The market's heavyweight stocks had early mixed fortunes, with Fletcher Building down 2c to $7.92 and Contact Energy unchanged on $5.80.
Among stocks to fall were Pumpkin Patch down 5c to $1.91, GPG 1c to 86c, Pyne Gould Corp 1c to 47c, Ryman Healthcare 4c to $2.06, Sky City 2c to $3.28 and Sky TV 5c to $4.75.
Posting early gains were Fisher & Paykel Appliances up 1c to 61c, Infratil 1c to $1.66, Pike River Coal 1c to 96c and Tower Corp 2c to $2.00.
