Quiet start for NZ shares

November 12 - Open

TEL

2.145

-0.03

-1.38%

Click for a detailed chart

Relevant offers

Market Data

Markets retreat as Greeks scramble for cash NZ dollar back below US83 cents Stocks slip after Mainfreight result Kiwi falls on European downgrades Stocks gain on Greek vote; euro dips Greek deal fans risk asset buying Finance and business diary Stocks down despite Greek news Dollar up on Greek debt package Market day ahead: Markets at the mercy of Greek vote

The New Zealand sharemarket rose in early trading.

Around 10.20am, the benchmark NZX-50 index was up 6.3 points to 3167.84, following a fall of 5.9 points yesterday.

Fletcher Building shares lifted 4c to 799 early, having fallen 9c yesterday when it gave what was considered a cautious outlook statement at its annual meeting in Dunedin.

Technology firm Rakon lifted 2c to 119, after reporting a first half loss of $6.2 million but said revenue of $72.2m was up 20 percent on the second half of last financial year.

Mainfreight shares were initially up 6c to 551, but a few minutes after opening slipped back to a gain of only 1c, taking the price to 546.

NZX shares lifted 5c to 815, Steel & Tube was up 2c to 312, Auckland Airport gained 2c to 189, and Telecom was up 1c to 255.

Stocks falling early included Sanford, down 5c to 500, Fisher & Paykel Healthcare down 4c to 312, and Freightways down 2c to 306.

In the United States, blue chips rose for a sixth day, capping their longest winning streak since August, as an upbeat forecast from a top homebuilder and data from China pointed to a strengthening global economy.

Preliminary closing figures put the Dow Jones industrial average up 0.4 percent to 10,291.26, the Standard & Poor's 500 Index up 0.5 percent to 1098.50, and the Nasdaq Composite Index up 0.7 percent to 2166.90.

NZPA