Sharechat Logo

MARKET CLOSE: Sharemarket makes up ground ahead of holidays

Tuesday 21st December 2010

Text too small?

The New Zealand sharemarket built on early gains in a pre-holiday session featuring little in the way of corporate news.

The benchmark NZX-50 index closed up 19.14 points, or 0.6%, at 3319.10 following yesterday's 25-point fall.

Blue chip Fletcher Building (NZX: FBU ) held on to its initial 4c gain to close at $7.70, after no reaction yesterday when Crane Group directors rejected its offer.

Contact Energy (NZX: CEN ) jumped 10c to $6.24 to make up all of yesterday's losses which were incurred on the back of rain across the country thought likely to bring wholesale electricity prices down.

Telecom (NZX: TEL ) rose 2c to $2.23, Auckland Airport (NZX: AIA ) was a cent higher at $2.17, Fisher & Paykel Appliances (NZX: FPA ) gained 3c to 54, Sky TV (NZX: SKT ) was 4c higher at $5.27 and casino operator Sky City (NZX: SKC ) was up 4c at $3.33.

During the busiest time of year for retailers, The Warehouse (NZX: WHS ) jumped 7c to $3.65, children's clothing company Pumpkin Patch (NZX: PPL ) rose 8c to $1.67, outdoor equipment retailer Kathmandu (NZX: KMD ) was up 5c at $1.78 but Hallenstein Glasson (NZX: HLG ) lost a cent to $4.09.

Jeweller Michael Hill (NZX: MHI ) subject to a partial takeover bid from the Hill family, was a cent higher at 88.

Durante Holdings was offering 90c per share to buy 5% of the shares it does not already own, taking its holding to 50.2%.

Air New Zealand (NZX: AIR ) was unchanged at $1.49 after Transport Minister Steven Joyce gave the green light today to the proposed trans-Tasman alliance with Virgin Blue.

Fast food franchiser Restaurant Brands (NZX: RBD ) was up 6c at $2.72.

On the decline, Abano Healthcare (NZX: ABA ) lost 2c to $4.85 after a fall in interim profit, Guinness Peat Group (NZX: GPG ) fell a cent to 70, Rakon (NZX: RAK ) fell 3c to $1.17 and Mainfreight (NZX: MFT ) lost 7c to $7.95.

Across the Tasman, Australia's S&P/ASX-200 Index was up 0.8% at 4774, while Japan's Nikkei share average was up 1.3%.

Earlier in the US, gains in energy shares pushed stocks higher. The Standard & Poor's 500 hit a two-year high as equities continued their steady upward march.



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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:

Acceleration of expressway will be transformative for Northland economy says EMA
The Warehouse Group - Proposed Scheme of Arrangement
The Warehouse Group - Proposed Scheme of Arrangement
Winton announces timing of its Annual Results
Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report