NZ stocks: Top 50 index hits new record

The sharemarket top 50 index made its third gain for the week in early business, pushing to a new record high.

The NZSX-50 gross index gained 7.62 points to 3439.55 at 10.10am, just eclipsing the previous high.

Telecom rose 3c to 607 and Fletcher Building pushed on from yesterday's 18c gain, adding 2c to 776.

Hellaby continued its good run, rising 4c to 615 and Sanford, likely to benefit from a lower dollar, rose 4c to 444.

US blue-chip stocks edged higher with the Dow gaining 12.58 points to 10,456.21 while the Nasdaq dipped 5.04 points to close at 2,116.42.

- NZPA