Kathmandu leads stockmarket higher

Kathmandu Holdings' share price closed up 5.3 per cent at $2.60.

New Zealand shares rose, led by Kathmandu Holdings ahead of its annual meeting, while Metro Performance Glass gained on its first-half earnings.

The S&P/NZX 50 Index gained 27.82 points, or 0.3 per cent, to 8089.8. Within the index, 30 stocks rose, 14 fell and six were unchanged. Turnover was $128 million.

"There's not a lot going on", said James Smalley, senior adviser at Hamilton Hindin Greene.

"We're in the middle of a mini reporting season at the moment, and results out later this week from Fisher & Paykel Healthcare and Ryman Healthcare should give the market a bit more to get its teeth into".

Fisher & Paykel Healthcare rose 2.4 per cent to $13.88, ahead of its first-half earnings today. Ryman gained 0.3 per cent to $9.25, its first-half results are due on Thursday.

Kathmandu Holdings led the index higher, up 5.3 per cent to $2.60. The company's annual meeting is due to be held in Melbourne on Friday morning. The stock has gained 27 per cent this year.

Metro Performance Glass rose 4.6 per cent to 92c.

The company posted a 2.6 per cent gain in first-half profit to $11.8m, in line with its guidance last month, and gave a forecast for a little changed full-year result.

Sales jumped 22 per cent to $141.7m, helped by a full six-month contribution from Australian Glass Group, acquired last year for A$43.1m. Its shares have dropped 54 per cent this year.

Synlait Milk rose 4.1 per cent to $7.39, while a2 Milk Co, which Synlait supplies and whose share price movements it usually follows, dropped 1 per cent to $7.84. A2's annual meeting will be held tomorrow in Auckland.

Xero rose 2.4 per cent to $33.80, continuing to bounce back from a recent sell-off which came after it announced its planned de-listing from the NZX.

Kiwi Property Group advanced 1.1 per cent to $1.36. The country's biggest listed property investor lifted first-half profit 5 per cent as its rental portfolio benefited from new tenants coming on stream.

Contact Energy was the worst performer, down 2.5 per cent to $5.41. Genesis Energy dropped 2.1 per cent to $2.37 and Fletcher Building fell 1.2 per cent to $6.90.

Outside the benchmark index, Evolve Education fell 1.3 per cent to 77c. It said first-half profit more than halved as occupancy rates dropped and it took a $3m GST impairment.

Blis Technologies dropped 10 per cent to 1.8c.

It reported a $1.2m net loss in the first half as trading revenue tumbled, but is optimistic of an improvement in the second half as sales normalise.