NZX up in light trading

RICHARD MEADOWS
Last updated 18:10 07/11/2012

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The New Zealand sharemarket rose today with lighter than normal volumes as markets focused their attention on the unfolding US election.

The NZX50 index was up 0.4 per cent or 15.42 points to 3943.09. Within the index, 23 stocks rose, 12 fell and 15 were unchanged.

Hamilton Hindin Greene client adviser James Smalley said the NZX50 index had a mildly positive day.

OceanaGold was up 6.2 per cent to $4.28 after a strong overnight session for commodities.

Jewellery retailer Michael Hill International hit a new high as it rose 3.3 per cent to $1.24.

"I guess that's just following through from the [growth focused] presentation update they gave at their AGM recently and trading figures. Fletcher Building, up 1.7 per cent to $7.25, bounced back off recent lows," Smalley said.

Outdoor clothing and equipment company Kathmandu was up 2.3 per cent to $1.79. Fletcher Building rose 1.7 per cent to $7.25. Childrens clothing chain Pumpkin Patch rose 1.6 per cent to $1.24.

Australian Telstra Corp was up 1.6 per cent to $5.20. Would-be bank Heartland rose 1.5 per cent to 69c. Goodman Fielder was up 1.4 per cent to 72c.

Rural services company PGG Wrightson was the leading decliner with a 2.9 per cent fall to 34c. Auckland International Airport was down 1.1 per cent to $2.66. New Zealand Oil & Gas fell 1.1 per cent to 89c.

Chorus was down 0.6 per cent to $3.28. Rubber goods and milking equipment manufacturer Skellerup was down 0.6 per cent to $1.67. Contact Energy was down 0.6 per cent to $5.28.

Trade Me Group fell 0.5 per cent to $4.02. Infratil was down 0.45 per cent to $2.19. Hallenstein Glassons, the clothing chain, fell 0.4 per cent to $4.98.

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- BusinessDay.co.nz

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