Sharechat Logo

NZ sharemarket starts strong

Tuesday 25th January 2011

Text too small?

Telecom shares edged up to an 11-month high as the New Zealand sharemarket started the day strongly, following a good showing by blue chips in the US.

Around 10.15am the benchmark NZX-50 index was up 14.86 points to 3367.51, having edged down less than 1 point yesterday.

Telecom (NZX: TEL ) gained 1c to $2.32, as other leading shares made bigger gains with Fletcher Building (NZX: FBU ) up 9c to $7.90 and Contact Energy (NZX: CEN ) gaining 4c to $6.30.

Ebos (NZX: EBO ) lifted 10c to $7.50, Mainfreight (NZX: MFT ) gained 8c to a four-year high $8.10, Nuplex (NZX: NPX ) was up 2c to $3.64, Auckland Airport (NZX: AIA ) added 2c to $2.27, and Cavalier Corp (NZX: CZV ) lifted 2c to $3.20, while Restaurant Brands (NZX: RBD ) lost 4c to $2.47.

In the US, Wall Street resumed its rally, ending higher on gains by tech and natural resources shares as investors see stocks regaining the momentum lost last week.

The blue-chip Dow Jones industrial average gained 0.9% to 11,979.91, according to preliminary figures, while the Standard & Poor's 500 Index rose 0.6% to 1290.79, and the Nasdaq Composite Index 1% to 2717.55.

 

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:

TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report
T&G Global Limited (NZX: TGG) FY21 Earnings Guidance Update
Arvida Group Limited (NZX: ARV) Successful Completion of $155m Placement
FreshLeaf: Cannabis on course to be 'medicine of the masses'