F&P Healthcare holds its ground

Shares in Fisher & Paykel Healthcare didn't lose traction on its first day of split-stock trading yesterday, closing up 2 cents at $3.07.

The medical equipment maker's share price has been on a roll since the September 16 announcement of a one-for-five share split and the six-month extension of its share buy-back programme.

ASB Securities head of advisory Stephen Wright said the lower share price attracted more buyers yesterday, however he didn't think the rise was unusual. "It didn't stand out dramatically against the market."