NZ stocks: Market edges up

The sharemarket edged higher in quiet early trading today, kicked along by a modest gain in top stock Telecom.

Shortly after the 10am open the benchmark NZSX-50 gross index was up 6.19 points at 3380.66, while the NZSX-All capital index was up 1.92 points at 1020.84.

Bellwether stock Telecom rose 2c to 602, making up for the 1c it lost yesterday.

Contact Energy was unchanged at 670, after a 7c gain yesterday, while Fletcher Building regained 4c to 750 after taking a 9c dive yesterday.

Making its debut in the top 50 index, recently listed Goodman Fielder rose 1c to 226.

Only 43 stocks changed hands in the first 15 minutes of trading this morning, with 14 rises and 5 falls, totting up turnover worth $14.5 million.

- NZPA