Investors in The Warehouse used a dull day to push the retailer's stock to a four-year high, with little news around to give direction to shares.
The NZSX-50 index closed up 6.41 points at 4170.71, on turnover totalling $129.4 million.
Hamilton Hindin Greene partner Grant Williamson said theweek began pretty quietly, with the highlight Telecom's 1.9 per cent gain to $4.83 after a negative start.
"It seems to be foreign buying, mainly out of Australia, that's caused the improvement."
Williamson said that interest, particularly from private equity investors, was expected if Telecom was forced to split its businesses.
Second-ranked Fletcher Building fell 3c to $11.45, and Contact Energy was down 2c at $9.03.
The Warehouse rose 15c, or 2 per cent, to $7.32 after brokers said bidders for the country's largest listed retailer might need to offer up to $8 a share to succeed.
Suffering at the hands of the strong New Zealand dollar, which hit a two-year high yesterday, above US74c, was Fisher & Paykel Healthcare, down 3c at $3.65.
"The strong NZ dollar ... is reaching some pretty high levels now and F&P Healthcare ... that's one stock whose bottom line is seriously affected by any movement in that NZ/US cross rate," Williamson said.
F&P Appliances rose 5c to $3.67.
Sky TV rose 2c to $5.92, Auckland Airport lost 4c to $2.39, Vector fell 2c to $2.97, and Sky City was flat at $4.70.
Shares in amphibious boat builder Sealegs Corporation hit a record after Friday's news that Fisher Funds had raised its stake to nearly 7 per cent. Sealegs closed up 10c at 75c, after earlier hitting a high of 80c.
Among stocks to go ex-dividend, Hallenstein Glasson (ex 17cps) fell 6c to $4.99; Briscoe Group (ex 4.5cps) lost 7c to $1.70; Hellaby Holdings (ex 10cps) fell 8c to $3.92; and Skellerup (ex 3cps) lost 4c to $1.20, its lowest since February 2006.
Australia's benchmark index was up 1 per cent at a record 6206, buoyed by the world's largest miners, BHP Billiton and Rio Tinto, while the gold miners soared, enjoying a higher bullion price.
In Japan, the Nikkei average rose 1.7 per cent.
On Wall St on Friday, US stocks were boosted by stronger profit outlooks from drug maker Merck & Co and fast-food restaurant chain McDonald's.
