New Zealand shares were mixed. Fisher & Paykel Healthcare led gainers after raising full-year profit guidance for a second time. Fletcher Building paced the advance after First NZ Capital upgraded its recommendation.
The NZX 50 index edged up 0.109 points or 0.002 percent to 4895.097. Within the index, 16 stocks rose, 28 fell and six were unchanged. Turnover was $118 million.
F&P Healthcare rose 3.5 percent to $4.19, and has gained 79 percent in the past 12 months. The Auckland-based company, which exports most of its breathing apparatus, said increased demand for it sleep apnea masks meant annual profit was likely to be about $97 million, up from previous guidance of $90 million to $95 million, and 26 percent ahead of its 2013 profit.
"People have been watching Fisher & Paykel for a while," said James Snell director of institutional equities at First NZ Capital. "They're wary of the headwinds of the high kiwi dollar, but once people have confirmation of growth they're happy to buy that story."
Fletcher rose 0.6 percent to $9.60. The biggest company on the NZX 50 Index had its price target upgraded to $10.25 from $9 by brokerage First NZ Capital because of a pickup in the Australian building sector and benefits of the company's cost cutting. The company reports first-half earnings on Thursday.