The New Zealand share market rose today but it wasn't exactly on fire.
Brokers said trading was quiet with prices continuing to be influenced by order flows rather than corporate news.
The benchmark NZSX-50 index closed up 12.142 points, or 0.438 per cent, at 2786.784.
Investors are nibbling
while also waiting to see if there are many profit warnings ahead of the corporate reporting season.
"The pattern of the last week hasn't really changed," said Nigel Scott of ABN Amro Craigs.
Some stocks were getting support from the weaker currency but even that trend was not across the board.
Volume was light with turnover worth $48.36 million. There were 38 rises and 22 falls.
"There's limited activity from the sell side," Mr Scott said.
The Australian market was higher care off strong performances from BHP and banks.
In New Zealand, Contact Energy was up 18c to 745, Fisher & Paykel Healthcare was up 4c to 324 and Auckland Airport was unchanged at 169.
Mainfreight rose 15c to 480. SkyCity rose 4c to 312 and SkyTV rose 4c to 195.
Telecom eased 4c to 248 and Fletcher Building eased 10c to 589. Port of Tauranga was back 12c at 638 and Sanford eased 8c to 525.
The Dow fell for the fifth straight day on Tuesday as investors fretted over what many expect will be a gloomy earnings season, overshadowing a boost in financials on bets US authorities will take toxic assets off banks' balance sheets.
General Electric fell more than 5 per cent after an analyst said the economic bellwether's profit could rely heavily on tax benefits when it reports results next Friday.
Aluminium producer Alcoa kicked off the fourth-quarter earnings season on a sour note on Monday after reporting a big loss, and its shares fell more than 5 per cent.
The Dow Jones industrial average was down 25.41 points, or 0.30 per cent, at 8,448.56. The Standard & Poor's 500 Index rose 1.53 points, or 0.18 per cent, to 871.79. The Nasdaq Composite Index was up 7.67 points, or 0.50 per cent, at 1,546.46.
- NZPA
