NZ market makes early gains

The New Zealand sharemarket gained early in a muted start to the trading week.

Around 10.15am the benchmark NZSX-50 index was up 7.32 points to 3165.47, after ending last week with a 13.9-point fall on Friday.

Contact Energy gained 6c early to 600, with Cavalier Corp up 4c to 250, and Sky City up 3c to 338.

Trustpower, to 752, Rakon to 119, and NZ Oil & Gas to 171 were among stocks that gained 2c.

Fletcher Building was unchanged early on 800, and Telecom was unchanged on 256, while Ebos Group lost 5c to 600.

Outdoor retailer Kathmandu was unchanged after debuting on Friday when it closed at 223, a premium to the 213 price the shares were sold at in the initial public offer.

In the United States, stocks rose in light volume to achieve a second straight week of gains as upbeat retail news reinforced hopes for strong sales in the key holiday season.

Consumer shares led the way, following results from media giant Walt Disney Co and retailer Abercrombie & Fitch, and an upbeat view from JC Penney Co Inc.

The Dow Jones industrial average added 0.7 per cent to end at 10,270.47, the Standard & Poor's 500 Index rose 0.6 per cent to 1093.48, and the Nasdaq Composite Index rose 0.9 per cent to close at 2167.88.

For the week, the Dow rose 2.5 per cent, while the S&P 500 advanced 2.3 per cent, and the Nasdaq gained 2.6 per cent.

- NZPA