The New Zealand sharemarket closed mildly in the black for the first time this week today, buoyed by a couple of large crossings in Auckland International Airport and Sky City Entertainment.
The benchmark NZSE-40 capital index closed up 4.53 points, or 0.24 per cent, at 1925.43, after testing new year lows
around 1912 yesterday.
Turnover was moderate with 25 million shares worth $68 million changing hands.
"It was relatively quiet, although block trades dominated again," Salomon Smith Barney broker Craig Robins said.
"There were a few crossings at the end of the day in things like Sky Casino and Auckland Airport which boosted up turnover."
Sky City ended up a cent at 753 on shares worth $6 million, while Auckland Airport rose 11c to 533 on turnover of $13 million.
Top stock Telecom continued to attract interest around 450, closing down 6c at 452 - dangerously close to a 14-month low.
"$4.50 seems to be a bit of a support level at this stage," Mr Robins said.
Rail operator Tranz Rail closed up 11c at 104 as its $66 million five-for-seven renounceable rights issue, priced at 75c a share, drew to a close.
"Tranz Rail rights stopped trading today so that stock's a bit better, up 11c - that's quite material," Mr Robins said.
"The delayed delivery stock starts trading tomorrow."
Tranz Rail said last night it will put its Wellington rail network up for tender after talks with the local regional council failed.
In other moves Fisher and Paykel Healthcare rose 10c to 1005; Fletcher Building was up 5c to 335; Carter Holt rose 3c to 175; Port of Tauranga was down 4c to 431; The Warehouse eased 5c to 705; and Fisher and Paykel Appliances was down 10c to 1005.
Restaurant Brands gained 12c to 148 after yesterday reporting that its third quarter sales were up 10 per cent on the previous year.
"The market's been concerned about the costing structure for Restaurant Brands and may have been just slightly wary of the Australian operation, but it certainly appears that the business is going very well," Sam Macdonald of Direct Broking said.
In all there were 46 rises and 44 falls among the 132 stocks traded.
- NZPA
