NZ shares continue climb

The New Zealand share market consolidated today, with the benchmark NZSX-50 index continuing its upward climb into the 3000s .

The index closed up 0.683 per cent, or 20.464 points, at 3018.472.

Turnover was 34,677,097 shares, worth $82,332,269.30. There were 45 rises and 34 falls among the 114 stocks traded.

"Overall, there was a reasonable tone to it, with far more stocks coming up than going down," ASB Securities head of advisory Stephen Wright said.

"It was a day of consolidation, really. NZ Refining had 25c come off, after the company said no one approached them for due diligence."

Telecom closed at 288, gaining 2c. Fletcher Building at 727, falling 2c. This was due to profit-taking, Mr Wright said.

Contact Energy gained 10c to 629 and SkyCity gained 11c to 324.

In other stocks, Tourism Holdings rose 4c to 50, Air New Zealand rose 6c to 104, Cavalier rose 8c to 228 and Freightways rose 13c to 316.

Lion Nathan rose 15c to 1468, following the Australian markets and currency gains against the New Zealand dollar.

Warehouse shares gained 6c to 395 and Nuplex gained 1c to 187.

Fisher & Paykel Healthcare fell 3c to 316, Goodman Fielder fell 2c to 174 and ING Medical Properties fell 1c to 118. Auckland Airport fell 1c to 173.

NZ Refining fell 25c to 740, following news yesterday the company had not yet undergone due diligence from any potential bidder -- following media reports that at least one of the company's five main shareholders was looking to sell its stake.

On Wall Street, the Dow Jones industrial average rose 0.2 per cent to close at 9108.51, the Standard & Poor's 500 Index gained 0.3 per cent to 982.18, and the Nasdaq Composite Index added 0.1 per cent to end at 1967.89.

- NZPA