26 Oct 2011

NZ market inches up at start of week

4:36 am on 26 October 2011

The NZX50 index closed up 15 points, or 0.5%, at 3296 on turnover of $75 million.

In the currency markets, at 5.20pm the New Zealand dollar is buying 80.56 US cents, 76.94 Australian, 50.35 pence, 61.29 yen, 0.5784 euro, and the Trade Weighted Index stands at 69.8.

Telecom is up 1 cent to $2.56, Fletcher Building fell 3c to $6.38, and Contact is down 1c to $5.69.

Sky City Entertainment dropped 2c to $3.45, while Sky TV is up 18c at $5.56.

Goodman Fielder is up 2c to 70c.

Kiwi Income Property Trust is unchanged at $1.04. Its PricewaterhouseCoopers Centre in Christchurch will be demolished, because it is too costly to repair.

Nuplex is up 4c at $2.68.

Heartland rose 3c to 51c.

Windflow Technology is up 11c to 26c, after it successfully completed its $2 million share purchase plan last week.

Vector rose 1c to $2.53. The Maui gas pipeline, which it manages, has been closed due to a possible leak, affecting supplies to energy generators and large users.