NZ stocks: Overseas sentiment helps shares to higher close

The New Zealand sharemarket closed a touch higher on reasonable turnover today following a positive lead from overseas markets.

The NZSX-50 gross index closed 4.21 points higher at 2738.06, while the NZSX all capital index ended 0.99 of a point lower at 921.16.

Total turnover was worth $103.54 million and there were 53 rises and 60 falls among 167 stocks traded.

First NZ Capital research manager Barry Lindsay said the market had traded in a "noticeably narrow range".

"The trend overall was marginally positive, but it was a reluctant gain really," he said.

"The lead was given by the gains in Wall St and European markets overnight and then that followed through during the day with gains in the Asian markets."

Mr Lindsay said no stocks showed particular strength apart from ANZ which rose 35c to 1935 to match gains in Australia.

However, that strength didn't extend to all dual listed stocks and financial services giant AMP closed 21c lower at 651 as investors continued to evaluate the company's annual result released yesterday.

New Zealand market leader Telecom closed a cent lower at 589. The telco was, " still struggling to perform after having delivered a pretty good result and new dividend policy," Mr Lindsay said.

Number three stock Contact Energy finished 12c lower at 578 but was trading ex a 10c special dividend.

Market reaction to the continuing flow of company results was fairly muted.

Transport and logistics operator Mainfreight ended a cent lower at 199 on high turnover after reporting its first quarter net profit rose 86 per cent to $2.13 million, excluding the results of its 80 per cent owned Owens Group.

Wrightson which today reported a sharp drop in net profit for the year to June ended a cent lower at 151.

"As expected profits were down but when you took away the one-off items the profit was actually a touch better than expected," Mr Lindsay said.

Ports of Auckland shares rose 3c to 699. The company reported its container volumes rose 3 per cent for the year ended July.

Calan Healthcare Properties Trust which today reported a 24 per cent rise in net profit for the June year ended today's session unchanged at 87.

Wellington Drive Technology fell 3c to 46 after yesterday reporting a widened $2.94 million June year loss.

Other stocks to move today included Air NZ down 2c to 37, Auckland International Airport up 10c to 721, BayCorp Advantage down 4c to 309, Carter Holt Harvey up 2c to 213, Fisher & Paykel Appliances up 2c to 422, Fletcher Building down 4c to 520, Michael Hill up 5c to 630, Mooring Systems up 4c to 359, Nuplex up 5c to 530, Port of Tauranga down 5c to 515, Promina up 10c to 440, Sky TV up 5c to 532, and Tower down 4c to 195.

- NZPA