NZX50 up slightly, trading light

JAZIAL CROSSLEY
Last updated 17:49 28/11/2012

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The New Zealand share market rose marginally today with quiet trading.

The NZX50 index was up 0.1 per cent or 2.54 points to 4012.15. Within the index, 24 stocks rose, 17 fell and nine were unchanged.

Forsyth Barr broker David Price said the market was relatively flat with several stocks going ex-dividend such as clothing retailer Hallenstein Glassons which fell 4.15 per cent to $5.08.

"Fletcher Building was relatively soft, down 1.6 per cent to $7.85, though not on particularly large volumes. Fisher & Paykel Healthcare was up 2.4 per cent to $2.59, it had a good day after going ex-dividend," Price said.

"Air New Zealand finished up strongly, rising 2 per cent to $1.27 after they came out with some guidance [saying earnings were likely to double]. The market is very much in a holding pattern, I think people are focused on the Fonterra listing on Friday now."

Rural services company PGG Wrightson led the gaining stocks, up 2.8 per cent to 37c. Markets operator NZX Limited rose 2.5 per cent to $1.23. Childrens' clothing chain Pumpkin Patch rose 2.4 per cent to $1.26.

Carpet maker Cavalier rose 1.75 per cent to $1.74. Mainfreight, the international trucking and logistics company, rose 1.4 per cent to $11.00. Retailer The Warehouse rose 1.3 per cent to $3.19.

New Zealand Oil & Gas was up 1.15 per cent to 88c. Argosy Property rose 1.1 per cent to 93c. Industrial chemicals and resins maker Nuplex was up 1 per cent to $2.93.

TrustPower fell 2.2 per cent to $8.36. Rubber goods and milking equipment manufacturer Skellerup Holdings was down 1.9 per cent to $1.57. Trade Me fell 1.9 per cent to $4.22.

OceanaGold was down 1.7 per cent to $4.10. Australian wealth manager AMP Limited was down 1.4 per cent to $5.71. Port of Tauranga fell 0.8 per cent to $13.05. Vector fell 0.75 per cent to $2.66.

Xero was down 0.6 per cent to $6.39. Casino and hotels operator SkyCity Entertainment was down 0.5 per cent to $3.68. Insurer Tower fell 0.5 per cent to $1.90.

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