NZ stocks: Market continues to climb, Telecom goes ex-div

The sharemarket continued to rise today, adding to the record-setting gains booked last week.

By 11.35am the NZSX-50 index had added 8.84 points to the gains of last week to sit at 2977.33, while the NZSX-All capital index was down 5.36 points at 978.12.

Telecom, which went ex-dividend 9.5 cents a share today, was down 8c at 597 on turnover worth $6.2 million.

Total market turnover in the time was worth $16.9 million, with 37 rises and 39 falls among the 126 stocks traded.

Among the big names to lose ground this morning were Air New Zealand down 1c at 159 and Auckland International Airport down 2c at 770.

Courier firm Freightways continued to rise today, up 2c at a record 298, on the back of the 26c it gained in the final two sessions of last week following news of its $6.5 million net profit for the four months ended October.

Rubicon was down 1c at 103 after Friday's announcement of a net loss of $9.1 million, which included one-off costs of $7 million.

Tenon was down 2c at 220.

Capital Properties lost 2c to 113. Last week the company said it would seek bids for the sale of management rights over the company's property assets.

Dual-listed banking stocks took a dive this morning, with Westpac losing 45c to 1955 and ANZ down 5c at 2170.

The Warehouse was unchanged at 367, after its new chief executive promised a shake-up at the discount retailer.

Other stocks on the move by 11.35am included: Tower down 2c at 223, Fisher & Paykel Appliances down 7c at 425, F&P Healthcare down 4c at 298, Telstra up 4c at 532 and Pumpkin Patch up 2c at 240.

- NZPA