NZX up on Fletcher Building trading

JAZIAL CROSSLEY
Last updated 18:24 07/12/2012

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The New Zealand share market closed the week on a positive note with the main bourse driven upwards by strong activity in Fletcher Building.

The NZX50 index was up 0.5 per cent or 20.96 points to 4044.32 points. Within the index, 21 stocks rose, 18 fell and 11 were unchanged.

Hamilton Hindin Green director Grant Williamson said it was another positive day on the market.

"Fletcher Building was leading the market higher, up 3.6 per cent to $8.26. It had an extremely good day, at the highest level seen this year. There seemed to be some very strong buying out of Australia," Williamson said.

"Chorus has had a very rough week following the Commerce Commission draft determination - it was off another 2.1 per cent today to $2.79 to record lows."

OceanaGold rose 3.4 per cent to $3.65. Rubber goods and milking equipment manufacturer Skellerup Holdings rose 3.3 per cent to $1.55. National carrier Air New Zealand was up 1.5 per cent to $1.33.

Australian phone company Telstra rose 1.3 per cent to $5.52. Fisher & Paykel Healthcare, the maker of breathing masks and respirators, was up 1.2 per cent to $2.62. Property For Industry rose 0.8 per cent to $1.24.

Childrens clothing chain Pumpkin Patch was up 0.8 per cent to $1.31. Freightways rose 0.7 per cent to $4.43. Carpet maker Cavalier was up 0.6 per cent to $1.72.

Trade Me Group was down 1.9 per cent to $4.17. Insurer Tower fell 1.6 per cent to $1.86. Australian food ingredient maker Goodman Fielder was down 1.2 per cent to 85c.

Diligent Board Member Services fell 1.1 per cent to $4.60. Investment holdings company Guinness Peat Group was down 0.8 per cent to 60c. Markets operator NZX Limited fell 0.8 per cent to $1.22.

Casino and hotels operator SkyCity Entertainment was down 0.8 per cent to $3.67. Vital Healthcare Property Trust was down 0.8 per cent to $1.26. Hallenstein Glasson Holdings fell 0.8 per cent to $5.08.

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- © Fairfax NZ News

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