Fletcher Building climbs on news

Fletcher Building shares rose to a record after a Government report showed non-residential construction held near an all-time high in October.

Fletcher Building stock rose 2c to close at $6.18 yesterday.

Non-residential construction worth $347 million was approved in October, second only to the record $366 million approved in September, Government statistics show.

The share has gained 9 per cent in value since November 9 when chief executive Ralph Waters said increased spending on motorways, energy projects and Government buildings could boost pretax earnings. .