KEY POINTS:
The New Zealand sharemarket inched higher today, with little news of note to spark interest among its stocks.
The benchmark NZSX-50 index closed up 11.88 points, or 0.3 per cent, at 4151.98, on turnover totalling $101.8 million.
A 15-point fall yesterday ended a five-session winning streak.
"People are still apprehensive in general, so I think markets are just bobbing along quietly," said David Price of Forsyth Barr.
The recent financial reporting season was largely in line with expectations, but company outlooks were a little soft, he said.
The standout stock was The Warehouse, which jumped 2 per cent to 588 on news of a special dividend of 35c a share totalling $109 million.
"I think you can guess by the reaction that clearly it wasn't expected by the market," Mr Price said.
The stock has been pressured as uncertainty continued over suitors, with Foodstuffs and Woolworths appealing a Commerce Commission's decision against a takeover.
However, private equity players were stepping away as credit dried up amid recent market ructions, Mr Price said.
Auckland Airport was still in play, as suitors such as the Canada Pension Plan Investment Board were not in the same camp as other private equity players.
"That's more real, long-term money that's in there potentially looking," he said.
Auckland Airport shares closed up 2c at 309.
Telecom was up a cent at 438, Fletcher Building gained 6c to 1191, Contact Energy rose 14c to 915, Fisher & Paykel Healthcare was up 5c at 355, and F&P Appliances was flat at 367.
Briscoe Group was flat at 151 after reporting a 12 per cent fall in half-year net profit to $10.5m, as competition hit margins.
Among rising stocks, Cavalier Carpets was up 9c at 321, Nuplex gained 11c to 700, PGG Wrightson was up 9c at 193, and Michael Hill rose 15c to 1015.
Air New Zealand lost 2c to 215, Sky City fell 2c to 441, Vector was down 4c at 241, and NZX fell 5c to 975.
Dual-listed stocks were largely negative, with ANZ down 14c at 3386, APN down 10c at 630, Lion Nathan 5c lower at 1100, and Goodman Fielder down 12c at 308. Westpac was up 21c at 3186.
- NZPA