The New Zealand sharemarket started the day with a small rise, after United States' equities had their calmest session in recent times.
Around 10.15am the benchmark NZX-50 index was up 10.78 points to 2867.44, having risen 35.8 points yesterday as Australian shares raced up 5.1 per cent, ahead
of an expected rate cut in Australia today.
The NZ market was pulled ahead today by Telecom, up 4c early to $2.48, having gained 9c yesterday when several leading stocks benefited as sentiment was restored.
While Contact Energy rose 30c yesterday, it was unchanged early today on $7.55, while Fletcher Building, which was unchanged yesterday, added 1c early to $5.81.
Auckland Airport was up 3c to $1.80, Ebos Group rose 3c to $4.30, Fisher & Paykel Healthcare was up 2c to $3.04, NZX was up 5c to $6.05, and NZ Farming Systems Uruguay gained 4c to $1.19.
TrustPower, which yesterday posted a first half after tax surplus of $66.8 million, was up 10c early today to 750.
Briscoe Group shares did not trade early , after the company reported third quarter sales down 11.2 per cent from a year earlier to $77.8m. Yesterday they closed on 80.
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Wall Street had a mixed performance as investors looked past a weak reading on the manufacturing sector and focused on the election.
The Dow Jones industrials moved in a range of just over 130 points - well below October's average daily swing of 594 points.
While trading was quiet, including the often volatile final hour, the calm doesn't necessarily suggest stocks have carved a definitive bottom; investors likely won't make big moves ahead of the election outcome.
The Dow was down 0.06 per cent at the 9319 level, while the Standard & Poor's 500 index was down 0.27 per cent and the Nasdaq composite index was down 0.3 per cent.
- NZPA
