The sharemarket had a fairly positive day after good performances from overseas markets.
The NZSE-40 capital index closed up 6.89 points, or 0.34 per cent, at 2045.82 and the small companies' NZSE-SCI capital index was up 1.34 points at 5481.44.
Turnover of 28.35 million, valued at $67.08 million, was topped by Fisher
& Paykel's $17.58 million followed by Telecom's $11.51 million.
A broker said the saga involving winemaker Montana had reached a stalemate, with people taking their own views on what would happen between rival bidders Lion Nathan and Allied Domecq.
The Montana standing committee said yesterday that it would issue its decision on Monday on whether Lion Nathan's forced selldown of 19 per cent of Montana was sufficiently at arm's length from its two bid offers.
That is the same day the takeovers panel will hold a hearing on whether Lion Nathan's two-tiered bid constitutes a full takeover offer under the new takeovers code.
Montana gained 13c to $4.53 on low volume, while Lion was up 2c at $5.42.
Another strong performance from casino operator Sky City left it up 25c at $11.75. With interest rates down, investors were seen to be after a good yielding stock, with good growth potential.
Fisher & Paykel continued rising, gaining another 10c to $12.95. Interest is likely to remain trained on the stock until the stellar healthcare division is separated from the appliances.
Fletcher Building was up 4c at $2.60 after announcing the sale of some non-core assets to Ullrich Aluminium for $5 million on Wednesday, part of a strategy to remove unnecessary parts of the company.
The stock also received a boost from figures released yesterday showing the Australian residential construction sector is on the mend.
Auckland-based fishing company Sanford continued its good run this year, rising a further 20c to $6.70 after news it had bought two tuna ships for $35 million.
Sanford said in a statement to the Stock Exchange that the 75m ships with crews of 20 would increase revenue by $25 million.
PDL Holdings also rose 20c to $10.30 on only 1500 shares traded, as majority shareholder French company Schneider Electric continued its search to attain full control.
Carter Holt Harvey lost 5c to $1.71, DB Group lost 20c to $5.20 on minimal volume, discount retail giant The Warehouse lost 15c to $5.30 at the hands of one big seller, and Restaurant Brands shed 2c to $1.50.
Air New Zealand B shares gained 3c to $1.44 on expectation that the national carrier was to present its formal proposal to Government officials seeking approval for Singapore Airlines to increase its stake in the airline.
Market heavyweight Telecom was up 8c at $5.23, Baycorp was up 10c at $13, UnitedNetworks was up 5c at $8.70 and Telstra gained 10c to $6.83.
- NZPA
The sharemarket had a fairly positive day after good performances from overseas markets.
The NZSE-40 capital index closed up 6.89 points, or 0.34 per cent, at 2045.82 and the small companies' NZSE-SCI capital index was up 1.34 points at 5481.44.
Turnover of 28.35 million, valued at $67.08 million, was topped by Fisher
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