Restaurant Brands shares rise

File photo

Restaurant Brands' share price rose despite the company reporting a 4.4 percent fall in first quarter sales.

The Restaurant Brand share price lifted 3c early to 275, its highest level in six months, with the quarterly sales fall mainly attributed to closures of earthquake-damaged Christchurch stores and disposal of Pizza Hut stores.

Around 10.15am the benchmark NZX-50 index was up 2.22 points to 3545.2, after yesterday gaining 15 points.

Steel & Tube prices were up 3c early to 264, The Warehouse lifted 3c to 369, Cavalier Corp was up 3c to 395, and Xero was up 2c to 247.

NZ Refining Co shares lost 13c early to 418, Sky City lost 3c to 366, Fletcher Building was down 2c to 880, Fisher & Paykel Healthcare was up 2c to 294, Freightways gained 2c to 328, Port of Tauranga dropped 2c to 878, Sanford lost 2c to 551, and Sky TV dropped 2c to 565. Telecom was up 2c to 245 and Contact Energy edged up 1c to 595.

New York and London markets were closed for public holidays, while European stock markets finished slightly lower in subdued trade.

- NZPA