KEY POINTS:
The New Zealand sharemarket inched higher today, following the lead of firmer offshore markets.
The benchmark NZSX-50 index closed up 8.86 points, or 0.2 per cent, at 4238.54 on turnover totalling $118.9 million.
"The bright spot on the market remains NZ Oil and Gas," said Grant Williamson of Hamilton Hindin Greene.
Imminent production from Taranaki Tui well in Taranaki followed by drilling at nearby Hector, the high level of interest in its Pike River coal float, and high oil prices were supporting the stock, which rose 9c to a record high 132.
"Finally NZ Oil and Gas has gained some market recognition for what it's managed to achieve with those two developments to date," Mr Williamson said.
"Elsewhere, it's a reasonably mixed performance."
Rises outnumbered falls 61 to 48.
Among the top stocks, Telecom rose a cent to 464, Fletcher Building was up 7c at 1233, Contact Energy fell 3c to 896, Sky City lost 4c to 493 and Sky TV was up 8c at 568.
Fisher & Paykel Healthcare rose 2c to 327, and F&P Appliances lost a cent to 345.
Vector was steady at 263. The lines company lost 3c yesterday after news that chief executive Mark Franklin is to resign, following the resignation of the chief financial officer and three board members.
Air New Zealand rose 4c to 264, Mainfreight was up 6c at 742, Infratil lifted 6c to 316, investment company Hellaby was up 13c at 338, and Pumpkin Patch rose 5c to 345.
Takeover target Tourism Holdings was up a cent at 270, 10c below MFS Living and Leisure's offer price.
Kiwi Income Property was up 3c at 164, Goodman Property Trust rose 2c to 147, and Property for Industry was flat at 149.
Among dual-listed stocks, ANZ fell 56c to 3226, Westpac lost 71c to 2865, Lion Nathan was down 5c at 990, and AMP shed 15c to 1121.
- NZPA