The local sharemarket firmed this morning with top stocks riding high following a relief rally on Wall Street.
The New Zealand benchmark NZSX-50 gross index was up 17.02 points at 3336.28 at 11.30am.
The US markets were also on the rise as Hurricane Katrina weakened and investors bet the storm
did less damage than feared to oil facilities.
The Dow Jones industrial average was up 65.76 points at 10463.05.
Fletcher building was up 5c to 745, top stock Telecom was up 3c to 601 after paying its 20c dividend yesterday, Contact Energy was up 12c to 748, and Carter Holt Harvey rose 1c to 253.
The forestry company is now 3c above the takeover bid price to be offered by Graeme Hart's Rank Group.
Other stocks on the rise included F&P Appliances, up 4c to 339, and Charlie's, which rose 10 per cent to 12c, showing no ill effects from the resignation of director Marc Ellis.
Stocks in residential property specialist Blue Chip NZ lost 1c to 84 after it reported a $2.4 million net after-tax profit on a $23.4m revenue stream in the half-year to June today.
Also on the way down were Feltex Carpets, falling 2c to 57, Tenon, down 5c to 425, The Warehouse, down 2c to 375, and 42 below, falling 1.5 per cent to 65.
Air New Zealand opened down 1c at 123 after it posted an 8 per cent rise in June-year net profit to $180m yesterday.
Eftpos company Cadmus fell 4 per cent to 24c after yesterday reporting it had turned last year's $490,000 June year net loss to a $349,000 net profit.
There were 32 stocks up and 33 down among the 118 traded. Turnover was 8.2m valued at $27.3m.
- NZPA
