KEY POINTS:
Emboldened by another bidder for Sky City, investors took the sharemarket higher in early trading despite fresh credit concerns cooling Wall Street and the kiwi dollar.
The NZSX-50 benchmark index was up 5.2 points to 4317.3 at 10.20am.
Despite the index lift, falls outnumbered falls 18 to 13. Turnover was slim at $22 million.
Sky City rose 6c to 539 after the company announced another mystery "credible bidder" was about to do due diligence.
The stock jumped sharply last month after it announced a bidder was about to do due diligence. That bidder had completed the book checking, Sky said today.
Top stock Telecom underpinned the market with a 3c rise to 450.
Third-ranked Contact Energy fell another 1c to 942 after dropping 7c yesterday on news of a planned $2 billion investment in a 650 megawatt wind farm near Port Waikato and a $140m, 100MW, gas-fired station.
Trustpower lost 5c of the 8c it rose yesterday to be on 920.
Michael Hill was down 5c to 1075.
Fisher & Paykel Healthcare rose 3c to 336 on the 2c of the dollar while fish exporter Sanford was up 4c to 425.
Among the minnows, Sealegs rose 3c to 57 and Renaissance rose 2c to 76c.
- NZPA