The New Zealand sharemarket has bucked the trend among its international counterparts, with the NZX50 index rising 5 points to close at 3320 in trading on Tuesday.
Turnover was $82 million.
The stockmarket shed about 1% after opening but clawed back the losses over the day.
First NZ Capital's institutional broker James Snell says listed firms have performed well in a patchy economic recovery.
He says company balance sheets are fundamentally in good shape and the earning outlook for New Zealand is probably better than some of the offshore markets as well.
Among the major movements, Fletcher Building was up 2 cents at $7.57, Telecom down 2.5 cents at $2.595 and Contact Energy unchanged at $5.52.
Sky City Entertainment was down 7 cents at $3.26, Sky Network TV was unchanged at $5.40, Fisher & Paykel Healthcare gained 16 cents to close at $2.60, The Warehouse was down 2 cents at $3.18, and Air New Zealand was down 2 cents to $1.07.
Freightways gained 2 cents to $3.28 after announcing on Monday that it had agreed to purchase Iron Mountain New Zealand for $12.7 million.
Hallenstein Glasson was up 7 cents to $3.44 and Infratil up 1 cent to $1.80
Nuplex ended the day up 4 cents to $2.81, Xero was unchanged at $2.70, and Hellaby's was also unchanged at $2.65.
Port of Tauranga gained 16 cents to close Tuesday's trading at $9.81.
DNZ was unchanged at $1.25 after cutting the limit of its banking facility from $350 million to $300 million.
In currency markets, at 5.20 pm the NZ dollar was buying 75.36 US, 79.51 Australian, 47.81 pence, 57.75 yen and 0.5709 euro. The Trade Weighted Index was at 67.92.
