The New Zealand stock market was up slightly, led by strength in markets operator NZX Limited but overall trading volumes were light.

Investors were on the sidelines ahead of an important meeting between European leaders about debt issues.

The European Summit on Thursday and Friday will see leaders from the euro zone tackle fiscal integration issues, especially the possibility of creating a union between banks.

The NZX50 index was up 0.1 per cent or 2.45 per cent to 3401.65. Within the index, 23 stocks were down, 17 rose and 10 were flat.

Forsyth Barr broker David Price said the New Zealand share market had a fairly flat day.

"It has just kicked back into positive territory and it has been a very light volume day here, very quiet. There is certainly a lack of any real news flow from listed corporate New Zealand," Price said.

"In saying that, it was a good performance given what's been happening across the Tasman [where stocks were down 0.8 per cent] which is a continuation of the New Zealand market outperforming its peers. NZX Limited had a very strong day, up 5.4 per cent to $1.36."

Would-be bank Heartland rose 4.1 per cent to 51c. Fisher & Paykel Healthcare, the maker of breathing masks and respirators, was up 2.1 per cent to $1.97.

Diligent Board Member Services rose 2 per cent to $3.53. Retirement villages operator and developer Ryman Healthcare rose 1.7 per cent to $3.50.

Rubber goods and milking equipment manufacturer Skellerup Holdings rose 1.4 per cent to $1.42. Chorus was up 1 per cent to $3.05. Port of Tauranga rose 0.9 per cent to $11.00.

The leading declining stock was OceanaGold, down 8 per cent to $2.30. Rural services company PGG Wrightson fell 3.3 per cent to 29c. Carpet maker Cavalier was down 3 per cent to $1.52.

Outdoor clothing and equipment company Kathmandu Holdings was down 1.4 per cent to $1.38. Australian food ingredient maker Goodman Fielder fell 1.4 per cent to 71c.

New Zealand Refining was down 1.2 per cent to $2.50. Argosy Property Trust was down 1.1 per cent to 87c while Kiwi Income Property Trust fell 0.95 per cent to $1.05.

Australian wealth manager AMP was down 1 per cent to $4.78. Whiteware manufacturer and exporter Fisher & Paykel Holdings was down 0.9 per cent to 53c.

- © Fairfax NZ News