6.00pm
New Zealand's shares showed some gains today after losing ground over the preceeding three sessions.
By the market's close the NZSX-50 gross index was 11.5 points or 0.5 per cent higher at 2157.84 per cent, and the NZSX-40 capital index was 10.9 points or 0.5 per cent higher at 2089.63.
Turnover was
a relatively light $50.6 million on 21 million shares.
Nevertheless, Wellington broker Ken Allen of Direct Broking said the market has seen "pretty strong buying across the board on the back of the offshore markets".
Today's gains showed people were prepared to put money into the New Zealand market, he said. Upcoming results next week, including market leader Telecom, were also showing some effect.
Telecom rose 5c today to 513 on turnover of 3.7 million shares worth $18.85 million.
Mr Allen said the Fisher & Paykel stocks also saw a decent rebound today. Appliances was up 15c to 1335, and Healthcare was up 20c to 1160.
Discount retailer the Warehouse had a bit of a bounce as well, rising 11c to 461.
Tranz Rail shares were up a cent to 102 after the rail operator's board yesterday urged shareholders to reject Australian company Toll Holding's 95c a share takeover offer.
Analysts say the board's stance is linked to an independent financial report by adviser Grant Samuel, which valued Tranz Rail shares around $1.50.
Elsewhere, today was the last day of trading in rights for troubled insurer Tower. Today, 2.75 million Tower rights were traded, while Tower shares were up 4c to 130.
Other stocks to rise included: Briscoe Group up 3c to 186, CarterHolt Harvey up 2c to 165, Fletcher Forests up 2c to 115, Genesis Energy up 5c to 112, Hellaby Holdings up 4c to 449, Independent Newspapers Ltd up 4c to 417, Infratil up 3c to 218, Michael Hill up 2c to 425, NZX up a cent to 489, Owens Group up 2c to 104, Pacific Retail up 8c to 220, Ports of Auckland up 10c to 760, Port of Tauranga up 3c to 420, Restaurant Brands up 2c to 132, Steel & Tube up 4c to 365, Tourism Holdings up 3c to 129, and TrustPower up 4c to 475.
Stocks to fall included: Auckland International Airport down 6c to 594, BayCorp Advantage down 2c to 161, Cavalier Corp down 3c to 455, Contact Energy down 5c to 480, Mainfreight down 3c to 130, Sanford down 9c to 490, Software of Excellence down 4c to 128, TelstraClear down 5c to 520, Waste Management down 4c to 353, and Westfield down 5c to 395.
There were 66 rises and 31 falls among 139 stocks traded.
- NZPA
6.00pm
New Zealand's shares showed some gains today after losing ground over the preceeding three sessions.
By the market's close the NZSX-50 gross index was 11.5 points or 0.5 per cent higher at 2157.84 per cent, and the NZSX-40 capital index was 10.9 points or 0.5 per cent higher at 2089.63.
Turnover was
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