NZX back in positive territory

JAZIAL CROSSLEY
Last updated 17:47 31/10/2012

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The New Zealand sharemarket snapped a five-day weak streak today, with the main bourse rising.

The NZX50 index rose 0.4 per cent or 14.33 points to 3957.87. Within the index, 24 stocks rose, 14 fell and 12 were unchanged.

Hamilton Hindin Greene direct Grant Williamson said it was a positive day for the local market.

"The NZX 50 index has finally managed to creep back up," Williamson said.

"The stand-outs for the day were the continued buying in the blue chip stocks such as Contact Energy, up 1.65 per cent to $5.55 and Fletcher Building, up 1.7 per cent to $7.04. Although Telecom, down 0.4 per cent to $2.41, is still bucking the trend and weighing on the market a bit."

The leading gainer was Australian wealth manager AMP, up 2.5 per cent to $5.78. Children's clothing chain Pumpkin Patch rose 2.5 per cent to $1.24. New Zealand Oil & Gas rose 2.3 per cent to 88c.

New Zealand Refining rose 1.8 per cent to $2.80. OceanaGold rose 1.8 per cent to $4.05. Retirement villages operator and developer Ryman Healthcare was up 1.5 per cent to $4.05. Trade Me Group rose 1.4 per cent to $4.30. Chorus rose 0.6 per cent to $3.38 after its first annual general meeting today.

Rubber goods and milking equipment manufacturer Skellerup led decliners with a 4.05 per cent fall to $1.66. Infratil was down 3 per cent to $2.25. Carpet maker Cavalier was down 2.1 per cent to $1.90.

Industrial chemicals and resins maker Nuplex was down 1 per cent to $3.02. Jewellery retailer Michael Hill was down 0.8 per cent to $1.19. Vital Healthcare Property Trust was down 0.8 per cent to $1.26. Xero fell 0.55 per cent to $5.45.

Argosy Property Trust was down 0.55 per cent to $5.45. Kiwi Income Property Trust fell 9.4 per cent to $1.17. Auckland electricity and gas company Vector fell 0.4 per cent to $2.72.

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- BusinessDay.co.nz

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