18 Oct 2010

Sharemarket resumes with six-point rise

8:01 pm on 18 October 2010

The NZX50 sharemarket kicked off the week with a six-point rise on Monday, closing at 3262.

Fletcher Building shed 7c to $8.28 after been selected by the Earthquake Commission on Friday to oversee the rebuilding of earthquake-hit Canterbury.

Telecom was unchanged at $2.07 and Contact Energy up 3c to $5.70. Fisher and Paykel Healthcare also gained 3c, to $3.14, while

Sky City Entertainment Group puit on 4c to close at $2.92.

Also up 4c were the Warehouse (to $3.94) and Pumpkin Patch ($1.99). Hallenstein Glasson rose 1c to $4.40 and Rakon 3c to $1.26, while Nuplex dropped 2c to $3.28.

In currency markets, the NZ dollar was at 75.2 US, 76.37 Australian, 47.22 pence, 61.14 yen and .5416 euro, with the TWI at 66.75.

Across the Tasman

The Australian sharemarket closed weaker, dragged lower by banks and miners, as investors remained cautious about the US economic outlook.

The S&P/ASX200 index finished down 37.1 points, or 0.79%, at 4651.9, while the broader All Ordinaries index was 34.8 points lower, or 0.73%, at 4723.4.

On the Sydney Futures Exchange, the December share price index contract was 45 points lower at 4657, with 23,568 contracts traded.