NZ stocks: Market opens higher as yo-yo continues

The New Zealand sharemarket opened higher this morning, continuing the see-saw trading pattern that has troubled the market since Saturday's stalemate election result.

The benchmark NZSX-50 index was 11.35 points higher at 3416.48 by 10.15am, clawing back over half of yesterday's losses in the opening minutes.

Most of the top ten stocks were higher, with market number two Contact Energy adding 3c to 737, Fletcher Building up 7c to 777, Fisher and Paykel Healthcare 7c higher at 370, Fisher and Paykel Appliances up 5c at 345 and Sky Network TV up 9c at 594.

Top stock Telecom was steady at 610.

- NZPA