| | |
Homepage | login or create an account

New Zealand Share Market Up A Little On Light Volume

Fuseworks Media
Fuseworks Media

Wellington, Jan 26 NZPA - The New Zealand share market was not expected to do much on a day with holidays in Auckland and Australia and so it proved.

The benchmark NZSX-50 index closed up 0.66 points, or 0.024 percent, at 2705.746 and volume was light outside Telecom.

Large crossings in Telecom were again a feature with more than 10 million shares traded. Telecom eased 2c to 251 but is a respectable distance from the 219 base it had been testing late last year.

"It doesn't get much quieter than this with Australia Day and Auckland Anniversary, meaning a large number of participants are out of the market," said Grant Williamson, partner at Hamilton, Hindin Greene.

"There was a slightly firmer tone," he said. "But everyone is waiting for the reporting season."

Investors are also waiting for the Reserve Bank interest rate decision this week.

Fletcher Building eased a cent to 554 and Fisher & Paykel Appliances eased 4c to 126. Nuplex fell 10c to 285 and Guinness Peat eased 2c to 87.

Hallenstein Glassons was down 2c to 218 and Infratil eased 1c to 165.

SkyCity rose 5c to 310 and Kiwi Income Property Trust rose 2c to 105.

NZOG rose 2c to 126 and Sanford rose 5c to 530. The Warehouse rose 4c to 374.

In the United States investors' ambivalence about earnings reports left Wall Street with a mixed performance Friday, US time.

Stocks ended a volatile session well off their lows. A sizeable comeback Friday was the latest back-and-forth seen throughout a turbulent week. The Dow tumbled 4 percent Tuesday, jumped 3 percent Wednesday and fell again Thursday. Volatility has been more the rule than the exception in recent trading as investors sort through a plethora of wide-ranging earnings reports.

The Dow industrials fell 45.24, or 0.56 percent, to 8077.56.

The Standard & Poor's 500 index rose 4.45, or 0.54 percent, to 831.95, while the Nasdaq composite index rose 11.80, or 0.81 percent, to 1477.29.

For the week, the Dow was down 2.46 percent, the S&P 500 down 2.1 percent and the Nasdaq off 3.4 percent.

NZPA WGT AP pjg nb

Credit Card Comparison TablesCompare Credit Cards - Independent interest rate and fees comparisons for New Zealand banks.

About : money

Find the latest money news and 'how to' guides on Guide2Money.

Ask our researchers your personal finance questions.

Your Questions. Independent Answers.