NZ sharemarket closes on a high, adds 11 points

File photo / NZH

The New Zealand sharemarket closed on a high note, with gold producer OceanaGold continuing its golden run.

Telecom closed at 223 following the announcement network company Vector was being added to the prioritised negotiations for the Government's ultra fast broadband initiative in the Auckland area.

Vector shares were up 3c to 253 in early trading and closed at 254.

The benchmark NZX-50 index closed up 11.2 points at 3395.69, having lost 5.6 points yesterday.

Melbourne-based OceanaGold, which earlier this week reported a lift in its South Island reserves, added 33c to 400, while NZ Refining Co fell 10c to 500 after reporting an improved after tax full year profit of $57.7 million.

Shares in Abano Healthcare gained 15c to 455, after sinking to a 21-month low of 440 yesterday.

The Abano board has said it was not aware of any material information that had not been disclosed to the market, nor was it aware of any reason for the fall in share price from 495 on February 3.

Sky TV lost 1c to 541, Mainfreight lifted 3c to 815, Hallenstein Glasson was up 3c to 391, while Freightways lost 2c to 335, Contact added 2c to 622, Fletcher Building added 11c to 834.

Jeweller Michael Hill remained at 890 after reporting a 7.2 per cent lift in half year net profit to $23.9 million, even as the company noted the general retail climate remained cautious.

Auckland International Airport remained unchanged at 224 after saying it would appeal a Commerce Commission determination over the input methodologies for airport information disclosure regulation.

In the United States, stocks were boosted by Dell earnings and deal announcements fuelling hope for more gains, but light volume made the recent move more tenuous.

The Dow Jones industrial average gained 0.5 per cent to 12,288.17, the S&P 500 gained 0.6 per cent to 1336.27, and the Nasdaq Composite Index rose 0.8 per cent to 2825.56.

- NZPA