NZ stocks: Little action as market marks times

12.00pm


The New Zealand sharemarket was marking time this morning with both major indices hovering just above yesterday's closing levels, a broker said.

At 11.30am, the benchmark NZSX-50 was up 0.62 points at 2457.61, while the NZSX-40 capital index was up 0.71 points at 2288.55.

There had been $21.4 million worth of shares traded on volume of 10.6 million so far this morning.

Among the 97 stocks traded were 23 rises and 20 falls.

In a day shaping up to be thin on corporate news, there was little action on the New Zealand Exchange.

Telecom shares were down 1c at 537 after it had traded $11.5 million worth on volume of 2.1 million.

Greenslades broker Paul Valk said despite the dip in Telecom, smaller stocks were propping the market up.

Carter Holt Harvey had traded $1.9 million worth but its shares were unchanged on 190.

Fletcher Building shares were unchanged on 413 after trading $477,518 worth.

Freightways continued its downward trend from 232 on January 7, its shares down 1c at 225.

Mainfreight shares were down 1c at 167.

On the retail front, Michael Hill International was down 2c at 495, Briscoe Group was down 3c at 171, and Hallenstein Glassons was down 2c at 283.

"It's just a quiet day, which is to be expected at this time of the year," Mr Valk said.

Meanwhile, shares on the rise today included: AMP Office up 1c at 83, ANZ Bank up 10c at 2040, Contact Energy up 2c at 542, Mooring Systems up 15c at 260, and Fisher & Paykel Appliances up 1c at 379.

Others on the slide were: Baycorp Advantage down 4c at 311, Infratil down 2c at 280, Port of Tauranga down 2c at 428, Vending Technologies down 4c at 130, and Wrightson down 1c at 149.

There had been $7764 worth of shares traded on the New Zealand Alternative Exchange so far today.

- NZPA