KEY POINTS:
The sharemarket remained positive yesterday despite a rate rise imposed by Reserve Bank Governor Alan Bollard, preferring to focus on Wall St, where the Dow Jones index broke through 13,000.
The NZX-50 index rose 11.79 points to 4174.90. The index took a near 1 per cent hit on Tuesday before Anzac Day.
Investors welcomed Fisher & Paykel Appliances' decision to relocate some manufacturing to Thailand, boosting the stock 8c to $3.60. The shares hit a session high of $3.71.
The whiteware company expects the move, which will result in the loss of 350 jobs, to produce benefits of between $10 million and $15 million a year, before tax, at a one-off cost of up to $25 million.
Top stock Telecom fell 4c to $4.80, Fletcher Building fell 6c to $11.45 after the rate rise, and F&P Healthcare, despite a still-strong dollar, gained 8c to $3.62.
Contact Energy rose 11c to $9.13.
"The market has generally, apart from Fletcher Building, taken the rate rise in its stride and even the rises in the exchange rate," said Stephen Wright of ASB Securities.
SkyCity fell 5c to $4.80 after Australian betting company Tabcorp squashed speculation it was a takeover target, and Sky TV gained 8c to $6.05.
Air NZ jumped 12c to $2.79 and Auckland Airport was up 8c at $2.42.
"Airlines around the world are said to be doing well at the moment, certainly in Asia, and Auckland Airport feeds off that," Wright said.
Tourism Holdings rose 7c to $2.17 after upgrading its annual profit guidance to between $17.5 million and $18.5 million.
NZ Refining was up 6c at $6.60 after approving a $180 million refinery upgrade.
Among dual-listed stocks, ANZ fell 4c to $34.53 after reporting a strong rise in underlying interim profit, Westpac jumped 30c to $30.50 and AMP was up 9c at $12.20.
- NZPA
