NZ stocks: Sharemarket still in holiday mode

The sharemarket was flat in early trading today as it struggled to get out of holiday mode.

Shortly after the 10am open this morning the benchmark NZSX-50 gross index was up 2.61 points at 3373.12, while the NZSX-All capital index was down 1.134 points at 1019.34.

In the first trading session back after a 2-1/2 day break for the New Year, top stock Telecom was unmoved at 601.

Carter Holt Harvey edged up a cent to 251, just above the $2.50 a share takeover offer on the table from Graeme Hart's Rank Group.

GRD was unchanged at 280, after a trading halt was lifted following yesterday's announcement it had won a contract to manage construction of a A$1.6 billion ($1.7 billion) nickle mining project for Brazilian mining titan Companhia Vale do Rio Doce (CVRD).

- NZPA