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NZ Sharemarket Ends Week On Positive Note

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Aug 28 NZPA - The New Zealand sharemarket lifted today even though the news was not always good from corporates on the last day of the June 30 balance date reporting season.

The benchmark NZSX-50 index closed up 32.927 points, or 1.07 percent, at 3109.342. Turnover was worth $94.73 million. There were 46 rises and 33 falls among the 115 stocks traded.

James Lee, head of institutional equities at First NZ Capital, said the market was reasonably quiet.

"New Zealand is up, led mostly by Telecom," he said.

Telecom rose 8c to 279 from what was seen as a weak close yesterday.

Fletcher Building rose 18c to 802, helped by news that consents for new dwellings lifted strongly last month.

Auckland International Airport rose 1c to 176 even though it reported a 63.1 percent fall in full-year profit. Mr Lee said it was marginally better than expected and the company maintained guidance.

Nuplex is continuing its strong run, rising another 14c to 249.

NZ Farming Systems Uruguay rose 2c to 42 after yesterday having to explain a blooper comment in its result presentation.

Pyne Gould Corp rose 11c to 114 after reporting a $54.4m annual loss, though at the underlying level they made a profit.

Hellaby Holdings lost 10c to 117, having lost 10c yesterday after taking a $4.6m impairment for the BBQ Factory after the buyer failed to make payments on an agreed timetable.

Charlie's fell 0.5c to 8.8 after reporting a loss today.

NZ Refining, which disappointed investors with its report earlier in the season, fell 11c to 523.

New Image, which reported a strong profit this week, rose 6c to 78.

Delegats rose 20 to 237 after reporting a record profit.

NZX rose 10c to 775 and Abano fell 24 to 666.

Hallenstein Glasson fell 5c to 275, Mainfreight fell 9c to 515, Tower fell 1c to 172 and Port of Tauranga fell 9c to 651.

TrustPower was unchanged at 760 but Contact rose 2c to 640.

SkyTV rose 3c to 437, AMP rose 5c to 780 and Fisher and Paykel Healthcare rose 3c to 332. SkyCity rose 3c to 331 and Cavalier rose 2c to 255. Lion Nathan rose 7c to 14.40.

US stocks closed higher on Thursday as investors turned back an early sell-off, thanks to a rebound in oil prices.

The Dow posted its eighth straight gain, led by Boeing Co, which rose 8.4 percent. The US aircraft manufacturer said its long-delayed 787 Dreamliner would make its first flight by the end of the year.

The Dow Jones industrial average gained 37.11 points, or 0.39 percent, to end at 9,580.63. The Standard & Poor's 500 Index added 2.86 points, or 0.28 percent, to 1030.98. The Nasdaq Composite Index rose 3.30 points, or 0.16 percent, to 2027.73.

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