NZ sharemarket edges up early

File photo / Paul Estcourt

The New Zealand sharemarket edged ahead in early trading, with Ebos climbing to another high as it continues its ascent following the announcement of a special dividend last month.

Around 10.20am the benchmark NZX-50 index was up 2.79 points to 3302.52, after yesterday losing 5.16 points.

Ebos added 10c early, taking it to $7.60. The share price has climbed from $6.91 on October 21, the day the special dividend was announced.

Other shares rising early today included Hallenstein Glasson up 5c to $4.55, Mainfreight up 4c to $7.25, Restaurant Brands up 2c to $2.82, and Fletcher Building up 2c to $8.15.

NZ Refining Co lost 4c to $3.65, Telecom slipped 1c to $2.04 and Contact Energy was unchanged on $5.91.

***

In the United States, stocks ended flat after choppy trading amid news of a rise in manufacturing activity in the US and China and caution on the eve of a crucial Federal Reserve meeting.

Stock indices opened with strong gains, buoyed by the industrial data, but momentum evaporated and stocks clawed out of negative territory in late trade.

The blue-chip Dow Jones Industrial Average rose 0.1 per cent to settle at 11,124.62, while the broader S&P 500 index advanced 0.1 per cent to 1184.38, and the tech-rich Nasdaq composite index dropped 0.1 per cent to 2504.84.

- NZPA