Infratil shares up on half-year result

File photo / Paul Estcourt

Infrastructure investor Infratil shares rose 2c to $1.92 in early trading today after announcing its half-year results this morning.

The company said its operating surplus for the six months to the end of September was $119 million, up from $70 million last year.

The net profit attributable to shareholders was $16m and a fully imputed dividend of 2.5c per share is to be paid.

Meanwhile Telecom's share price fell 1c to $2.21 after gaining 4c yesterday as the only standout performer in an otherwise typically quiet Monday market.

Around 10.20am the benchmark NZX-50 index was down 0.112 per cent at 3324.508.

Nuplex rose 2c to $3.36, Fletcher Building gained 2c to $7.95 while Contact eased 2c to $5.95.

Pike River Coal rose 1c to $9.70 after yesterday telling shareholders it was being more realistic about its forecasts.

Following yesterday's stronger than expected retail sales data, Michael Hill remained at $8.10, and Hellaby Holdings, which owns retailers, rose 2c to $1.99. The Warehouse fell 1c $3.87.

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In the US, Wall Street stocks climbed on Monday after two large proposed acquisitions and strong retail sales boosted investors' confidence about the outlook for stocks.

The Dow Jones industrial average gained 77.58 points, or 0.69 per cent, to 11270, the S&P 500 index rose seven points to per cent to 1206 and the Nasdaq gained 11.90 points to 2530.

- NZPA