4 Feb 2011

NZ and Australian markets up

1:35 pm on 4 February 2011

The New Zealand stock market was up on Friday morning.

At 12:05pm, the NZX50 index was up 17 points, at 3367 on turnover of $53 million.

Telecom was up 3 cents at $2.23, Fletcher Building was up 7c at $7.98 and Contact Energy was up 3c to $6.25.

Auckland International Airport Ltd was down 1c to $2.22 while Air New Zealand was unchanged at $1.39.

Fisher & Paykel Healthcare was unchanged at $3.20.

Pumpkin Patch was down 1c to $1.49, The Warehouse was up 5c to $3.65

and Briscoes Group was up 2c to $1.38.

Michael Hill International was unchanged at 90 cents after lowering its full year profit forecast due to horrendous weather in Australia.

PGG Wrighton shares were up 4c to 59c after announcing it had been approached by a third party with an offer to rival Agria's.

Tourism Holdings was down 17c, or 22%, to 57c, after predicting it will make a loss this year, instead of a profit, due to the weather and a poor tourism market.

Across the Tasman, the Australian 200 index was up 5 points, to 4825 in early trading.

The New Zealand dollar was trading at 77.30 US cents, 76.15 Australian cents, 47.90 pence, 63.10 yen and 0.5673 euro. The Trade Weighted Index was at 68.52.