Recommended.co.nz | Guide2.co.nz | Voxy.co.nz | Gimme.co.nz
Homepage | login or create an account

NZ Sharemarket Up In Early Trading

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Jan 28 NZPA - The New Zealand sharemarket edged up in opening trading today, with a dozen stocks gaining between 1 and 3 cents.

The benchmark NZX50 index opened at 3193.573 and rose 7.819 points to 3201.392, or 0.245 percent, following this morning's Reserve Bank predicted announcement that the official cash rate would remain at 2.5 percent. The gain reversed some of yesterday's losses, defying the negative lead of Asian and Australian markets but following a more positive US market.

Fisher & Paykel Appliances was up 1c to 61, AMP NZ Office Trust gained 1c to 74 and Infratil improved 2c to 167.

Nuplex lifted 3c to 330, Air New Zealand was up 1c to 121 and Goodman Property also gained 1c to 103.

The Warehouse was up 3c to 385, Fletcher Building improved 3c to 810 and Contact Energy sparked up 2c to 592

Telecom was unchanged at 244, as was the ANZ Banking Group at $28 even.

Fisher & Paykel Healthcare lost 1c to 336, as did Telstra to 437. Sky TV was down 2c to 490.

Yesterday Japan's Nikkei 225 stock average fell 73.20 points, or 0.7 percent, to 10,252.08, with the broader market hurt by heavy selling in Toyota shares. The world's No. 1 car company halted US sales of eight models to fix a potentially dangerous gas pedal problem. Its shares tumbled 4.3 percent.

Elsewhere, South Korea's Kospi declined 0.7 percent to 1,625.48. India's market retreated 2.1 percent, Australia's benchmark slid 1.6 percent and Taiwan's market fell 0.5 percent.

China's Shanghai market traded down 1.1 percent at 2,986.61 late in the session, as investors looked for signs the government was throttling the flow of lending.

However, the US stock market was modestly higher yesterday after the Federal Reserve issued a more upbeat assessment of the US economy.

The Dow Jones industrial average was up 45.65 points, or 0.45 percent, at 10,239.94. The Standard & Poor's 500 Index was up 5.17 points, or 0.47 percent, at 1,097.34. The Nasdaq Composite Index was up 17.12 points, or 0.78 percent, at 2,220.85.

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

About guide2.co.nz : money

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

Ask our researchers your personal finance questions.

Your Questions. Independent Answers.