NZX follows overseas markets up

JAZIAL CROSSLEY
Last updated 20:46 29/11/2012

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The New Zealand sharemarket rose today, following positive leads from overseas markets.

The NZX50 index was up 0.1 per cent or 4.61 points to 4016.77. Within the index, 25 stocks rose, 18 fell and seven were unchanged.

Craigs Investment Partners head dealer Bryon Burke said trading was mixed.

"Fisher & Paykel Healthcare fell 3.1 per cent to $2.51 because it went ex-dividend. There was some activity in the market. Overall the market is quite busy but the leading stocks were pretty mixed following a positive lead from Wall St and Australia," Burke said.

"The New Zealand market will be focused on Fonterra tomorrow which is exciting for the market as it is a significant IPO but overall investors were cautious."

Australian food ingredient maker Goodman Fielder led gaining stocks with a 6.2 per cent rise to 86c. Pay TV operator Sky Network Television was up 3 per cent to $5.22.

Insurer Tower was up 2.6 per cent to $1.95 after announcing its annual profit rose 67 per cent after it recovered from Canterbury losses. National carrier Air New Zealand was up 2 per cent to $1.30.

Australian wealth manager AMP was up 1.6 per cent to $5.80. Restaurant Brands, the fast food operator behind KFC and Pizza Hut, rose 1.15 per cent to $2.64. Contact Energy rose 1.1 per cent to $5.37.

Would-be bank Heartland was down 2.9 per cent to 68c. Rural services company PGG Wrightson was down 2.7 per cent to 36c. Clothing retailer Hallenstein Glassons was down 1.8 per cent to $4.99.

Industrial chemicals and resins maker Nuplex was down 1.7 per cent to $2.88. Infratil was down 1.3 per cent to $2.26. Retailer The Warehouse fell 1.25 per cent to $3.15. Trade Me Group fell 0.95 per cent to $4.18.

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- BusinessDay.co.nz

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