NZ stocks: Key indices continue in green

The sharemarket continued its run into the green in morning trading today with both major indices marginally up on their closing marks yesterday.

At 11.30am, the benchmark NZSX-50 gross index was up 10.17 points, or 0.47 per cent, to 2160.10, while the NZSX-40 capital index was up 7.39 points, or 0.36 per cent, at 2091.36.

The NZSX-50 was at its highest level since July 8.

Shortly after market's open, there had been $13.7 million worth of shares traded on volume of 7.8 million. Among the 98 stocks traded were 36 rises and 10 falls.

Market force Telecom led the way, having traded $3.5 million worth on turnover of 670,448. The telco's shares were up 1c to 519.

Forsyth Barr broker David Price said the market, although positive, was quiet with most trading done on low volumes.

"We had an OCR (official cash rate) cut, currency hasn't moved since it was up overnight, and the market's relatively unchanged today," he said.

"It's quiet -- there isn't a lot of fresh new news," Mr Price told NZPA today, adding that the corporate nearing corporate reporting season would hopefully rejuvenate the market.

There was also quite solid trading in Tower rights in morning trading, $765,606 worth being sold on volume of 2.8 million.

At 11.30am, Tower rights were up 1c at 28.5, while its parent shares were up 2c at 121.

Today's market rise comes after it yesterday bounced back from a sell-off this month, and on the back of slim gains on the United States markets in overnight trading.

In the US, the Dow Jones closed up 35.79 points at 9194.24, while the broader Standard & Poor's 500 Index rose 0.50 points to 988.61.

The technology-laced Nasdaq Composite Index climbed 13.05 points to 1719.15.

Stocks on the rise on NZX included: Fisher & Paykel Healthcare up 18c to 1180, F&P Appliances up 25c to 1325, ANZ Bank up 1c to 2006, Carter Holt Harvey up 2c to 166, Fletcher Building up 12c to 394, Mainfreight up 3c to 129, NZ Refining up 9c to 1665, Port of Tauranga up 10c to 420, Telstra up 2c to 535, The Warehouse up 2c to 485, and Westpac up 5c to 1720.

On the slide were: Auckland International Airport down 1c to 592, Fletcher Challenge Forests down 1c to 113, Owens down 2c to 94, TrustPower down 15c to 465, and Briscoe down 1c to 192.

- NZPA