3 Sep 2012

NZ market makes slight gain

8:11 pm on 3 September 2012

The New Zealand sharemarket was up 2 points to close at 3669 on turnover of $73 million on Monday.

Fletcher Building was down 5 cents at $6.60 after announcing it had sold its Corys Electrical business.

Contact gained 2 cents to $4.90, Freightway was up 8c at $4.08, while Mainfreight was unchanged at $9.65.

Tourism Holdings rose 11c to 67c after announcing plans to take over two campervan hire businesses to cut back costs and build up the company's scale.

Auckland Airport was down 2c $2.58, Air New Zealand was 1c lower to $1.08, while Port of Tauranga gained 31c to $12.32.

Sky TV was 4c lower at $5.02 after the Commerce Commission said it wanted to further investigate its agreements with content providers.

At 5.20pm on Monday, the New Zealand dollar was at 80.12 US, 78.03 Australian, 50.49 pence, 62.69 Yen, 0. 6364 euro.

The Trade Weighted Index stood at 72.02.