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A gain by shares in market heavyweight Telecom helped the New Zealand stock exchange to a small early rise.
The 5c lift in Telecom shares took the stock to 264, following a 4c fall yesterday.
Construction and building products company Fletcher Building slipped 3c to 547, after reporting a 27 per cent fall in half year net profit to $172 million.
The company said it had been exposed to a marked slowdown in residential and commercial construction markets globally.
Around 10.15am the benchmark NZSX-50 index was up 5.32 points to 2735.54, having closed down 19.8 points yesterday.
The New Zealand market's small early rise came after a modest gain by equities in the United States.
US stocks rose in a choppy session after lawmakers reached a deal on a US$789 billion ($1.5 trillion) stimulus package that is seen as crucial to reviving the recession-hit economy.
Along with Telecom, other stocks to rise early included Sky TV, up 2c to 415, and Michael Hill International, up 2c to 53.
Early falling stocks included Fisher & Paykel Appliances which slipped 2c to 106, and Nuplex down 2c to 245. Dual-listed Westpac was down 27c to 1990.
In the US, bank shares traded higher on bargain hunting and on hopes the stimulus package will reinvigorate the economy.
The Dow Jones industrial average rose 0.6 per cent, the Standard & Poor's 500 Index added 0.8 per cent, and the Nasdaq Composite Index gained 0.4 per cent.
- NZPA