15 Feb 2011

NZ and Australian markets flat

1:37 pm on 15 February 2011

The NZX 50 index was up less than a point, at 3384 on turnover of $15 million.

Fletcher Building was down 1 cent at $8.24, Contact Energy was down 2c at $6.22 and Telecom was unchanged at $2.21.

Salvus Strategic Investments up 4c to 74c, after saying it will consider selling its share portfolio and returning the money to investors.

Freightways was up 10c to $3.37 after reporting an improved half year profit.

Pharmacy Brands was unchanged at 45 cents after announcing an agreement to buy Radius Pharmacy on Monday for $17.1 million.

Sky City Entertainment was up 2c at $3.32 and Sky Television was up 5c at $5.40.

Auckland International Airport Ltd was up 1c to $2.24 and Fisher & Paykel Healthcare was up 1c to $3.04.

Air New Zealand was up 1c at $1.40 after increasing its fares by an average of 3% as fuel prices continue to surge

The Warehouse was unchanged at $3.55, Kathmandu was up 1c to $2.17 and Pumpkin Patch was down 2c to $1.45.

Across the Tasman, the Australian 200 index was also flat, down less than a point, to 4934 in early trading.

At 12.30pm on Tuesday, the New Zealand dollar was trading at 75.59 US cents, 75.38 Australian cents, 47.17 pence, 63.04 yen and 0.5609 euro. The Trade Weighted Index was at 67.62.