4 May 2010

Sharemarket bounces back, up 18 points

7:12 pm on 4 May 2010

The benchmark NZX50 index rose 18 points, or 0.5%, to close at 3298 on Tuesday on turnover of $42 million.

The three leading stocks all rose slightly - Fletcher Building 2c to $8.40, Telecom 3c to $2.20 and Contact Energy 1c to $6.29.

Air New Zealand lost 3c to close at $1.31 after announcing plans for a code-share agreement with Virgin Blue on Monday.

Auckland International Airport and Sky Network Television were both unchanged at $2 and $5 respectively. Sky City Entertainment was up 1c at $3.17.

PGG Wrightson gained 2c to 55cents, Fisher and Paykel Healthcare 1c to $3.58 and Fisher and Paykel Appliances 1c to 66c.

New Zealand Refinery was up 6c to $3.73 and OceanaGold up 9c to $3.39 after its Monday announcement that it had found more gold at its Frasers underground mine in Otago.

The newly-listed luxury scented candle and fragrance firm Ecoya shed 4c to 95c.

On currency markets, the NZ dollar was at 72.85 US cents, 78.90 Australian, 47.72 pence, 69.03 yen and .5516 euro. The TWI was at 68.20.

Across the Tasman, the benchmark S&P/ASX200 index fell 48.4 points, or 1.01%, to 4737.1, while the broader All Ordinaries dropped 53.9 points, or 1.12%, to 4753.2.