Sharechat Logo

Kathmandu shines in early sharemarket rise

Wednesday 19th January 2011

Text too small?

Shares in outdoor clothing and equipment company Kathmandu Holdings rose 5% in early trading, after the company announced a strong sales performance in December and this month.

It expected earnings before interest and tax for the six months to the end of January to be 20 to 26% ahead of a year earlier.

The 9c rise in Kathmandu (NZX: KMD ) shares to $1.89 was a standout in a solid start to the day by the sharemarket, with the NZX-50 index up 6.42 points to 3350.16 around 10.15am, after it ended yesterday down 10.6 points.

NZ Refining Co (NZX: NZR ) rose 12c to $4.68 early, Auckland Airport (NZX: AIA ) gained 3c to $2.24, NZX (NZX: NZX ) was up 2c to $1.70, Fletcher Building (NZX: FBU ) added 2c to $7.88, and Contact Energy (NZX: CEN ) lifted 2c to $6.36, while Telecom (NZX: TEL ) was unchanged on $2.27.

Freightways (NZX: FRE ) lost 4c early to $3.25, Property for Industry (NZX: PFI ) was down 2c to $1.11, and The Warehouse (NZX: WHS ) slipped 2c to $3.60.

In the US, stocks gained despite weak Citigroup results and concerns circling Apple after news of chief executive Steve Jobs' medical leave.

The Dow Jones industrial average gained 0.4% to end unofficially at 11,837.93, the Standard & Poor's 500 Index rose 0.1% to 1295.02, and the Nasdaq Composite Index added 0.4% to 2765.85.

 

NZPA



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report