The New Zealand sharemarket opened mildly higher this morning, led by market bellwether Telecom.
The benchmark NZSX-50 index was 4.73 points higher at 3289.17 by 10.25am.
Telecom, the largest stock in the index, was 2c higher at 588. Among the other leaders, Fletcher Building added 7c to 738, Auckland Airport
slipped a cent to 193, and Contact Energy lost 3c to 652.
Takeover target Carter Holt Harvey was steady at 251, a cent higher than billionaire Graeme Hart's offer price.
Mr Hart is expected to decide today whether to float or sell off food business Goodman Fielder, a subsidiary of his majority-owned Burns Philp group. He may choose to sell to a private equity group in order to gather funds, and concentrate his energies on Carter Holt.
Vehicle and goods auctioneer Turners Auctions shed 15 per cent, or 35c, to 198 in early trading after revising down its full year forecast to $5.4 million, from last year's $7 million profit.
Five million shares worth $31 million changed hands in early trade.
Rises outnumbered falls by 19 to 14 among the 72 stocks traded.
- NZPA
