NZX50 up, Precinct down on Bowen loss

JAZIAL CROSSLEY
Last updated 17:53 23/11/2012

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The New Zealand sharemarket rose today, keeping above the 4000 level.

Precinct Properties led the declining stocks after it lost out on a contract to lease up to 60,000sq m to government. It bought the Bowen Campus near the Beehive in April and expressed hope that its tender for the contract would be accepted. Its shares slipped 2.45 per cent to $1.00.

The NZX50 index was up 0.3 per cent or 11.12 points to 4008.33. Within the index, 20 stocks rose, 19 fell and 11 were unchanged.

Tyndall Investment Management domestic equities manager Rickey Ward said trading was patchy.

"Fletcher Building was the main driver of the market, up 1.9 per cent to $7.99. The Warehouse was a bit firmer today, up 1.3 per cent to $3.19, assuming [founder Sir Stephen] Tindall's comments [that he wants to increase his shareholding] may have helped the price go a bit higher but there has been good support for it."

Property For Industry led the gaining stocks with a 2.5 per cent rise to $1.25. Clothing retailer Hallenstein Glassons was up 2.1 per cent to $5.36. Children's clothing retailer Pumpkin Patch rose 1.65 per cent to $1.23.

Chorus was up 1.5 per cent to $3.30. Xero rose 1.4 per cent to $6.44. OceanaGold rose 1.2 per cent to $4.35. Trade Me Group rose 0.9 per cent to $4.34.

Outdoor clothing and equipment company Kathmandu Holdings was down 1.6 per cent to $1.82. Jewellery retailer Michael Hill International was down 1.6 per cent to $1.22.

ANZ Banking Group fell 1.6 per cent to $29.91. Vector fell 1.5 per cent to $2.61. Westpac fell 1.4 per cent to $31.50. Australian food ingredient maker Goodman Fielder, which said this week it would soon raise the prices of its breads, fell 1.2 per cent to 80c.

Fisher & Paykel Healthcare, the maker of breathing masks and respirators, was down 1.2 per cent to $2.46. Diligent Board Member Services fell 0.8 per cent to $4.70. Markets operator NZX Limited was down 0.8 per cent to $1.21.

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