30 Oct 2009

NZ sharemarket rebounds

4:02 pm on 30 October 2009

The New Zealand sharemarket has rebounded after strong gains on Wall St.

By 1pm on Friday, the NZX 50 index was up 25 points, or 0.8%, to 3221 on turnover of $116 million.

Fletcher Building was up 1 cent to $8.23, Telecom was up 2c to $2.61 and Contact Energy was up 1c to $6.23.

Sky City Entertainment was up 5c to $3.45 after telling shareholders it's still on track for double digit earnings growth in the current financial year, after a strong performance in the September quarter.

Sky Network TV was up 10c to $4.85.

Auckland International Airport Ltd was down 3c to $2.00.

Fisher & Paykel Appliances was up 1c to $0.64 after writing down the value of its US assets by up to $NZ75 million.

NZX was up 11 cents to $8.00 after its nine month operating profit rose 8% to $14.7 million.

The Warehouse was up 5c to $4.49

The Australian 200 index is up 85 points, or 1.9%, to 4660.

At 1pm on Friday, the New Zealand dollar was trading at 72.96 US cents, 79.80 Australian cents, 44.04 pence, 66.73 yen and 0.4915 euro. The Trade Weighted Index was at 65.55.