KEY POINTS:
The sharemarket inched higher today as interest remained focused potential takeover target Auckland Airport.
The benchmark NZSX-50 index closed up 6.94 points, or 0.2 per cent, at 4310.12 on turnover valued at $100.3 million. Rises outnumbered falls 69 to 45.
Auckland Airport hit another record high, peaking at 335 before closing at 332, up 12c on yesterday's close. The company said yesterday Canada Pension Plan Investment Board (CPPIB) had been approaching its shareholders in an attempt to buy shares prior to a possible bid.
"Auckland Airport is the main talking point still, but the rest of the market's still reasonably solid," said Don Lewthwaite of First NZ Capital.
Stocks held yesterday's gains fairly well, but there were no highlights outside Auckland Airport.
"Corporate activity aside, the market's still looking for direction re valuations," he said.
Fletcher Building, which rose 15c yesterday, was up 9c at 1295. The other two of the top trio were down -- Telecom by 5c to 463 and Contact Energy by 5c to 900.
Fisher & Paykel Appliances was up 5c at 380, while F&P Healthcare fell 4c to 350.
Air New Zealand hit a five-year high of 313 before closing at 312, up 2c on the previous session. The Warehouse was up 7c at 605, Port of Tauranga fell 9c to 685, Freightways lost 4c to 418, and Mainfreight rose 2c to 750.
Pumpkin Patch was down 6c at 362 and Hallenstein Glasson fell 3c to 482, while rural services stock PGG Wrightson was off a cent at 176 after its purchase of an Australian seed distributor.
Tower rose 5c to 263.
Among dual-listed stocks, Westpac rose a cent to 2875, Telstra fell 14c to 523, AMP lost 11c to 1129, ANZ rose 7c to 3287 and Lion Nathan gained 10c to 1000.
- NZPA