KEY POINTS:
The New Zealand sharemarket lifted in early trade, although Guinness Peat Group (GPG) lost 5c early to 143 after posting its first half results.
For the six months to the end of June the company made a loss of £42 million, compared to a £94 million net profit in the corresponding period a year earlier.
Around 10.15am the benchmark NZSX-50 index was up 4.7 points to 3325.7 after dropping 5.9 points yesterday.
Top stock Telecom was unchanged early after a 6c fall yesterday, while Fletcher Building gained 9c to 741.
Contact Energy was up 5c to 845, having gained 9c yesterday after posting a 1 per cent fall in full year net profit to $237.1m, and underlying earnings up 0.7 per cent at $232.8m.
Air New Zealand shares were up 1c to 121, having dropped 2c yesterday on news the national carrier's annual net profit fell 1 per cent to $218m while operating revenue rose 9 per cent.
Carpet maker Cavalier Corporation was up 3c to 275, Fisher & Paykel Healthcare was up 2c to 300, and NZ Oil & Gas up 3c to 157.
Freightways down 3c to 335 was among few stocks to fall early.
In the US, the Dow and S&P 500 rose as hurricane fears lifted oil prices and boosted energy shares, blunting the effect of a report that showed a growing number of problem US banks.
Trading volume was light and volatile, but traders said energy prices were the key mover.
The Dow Jones industrial average was up 0.23 per cent at 11,412.87. The Standard & Poor's 500 Index was up 0.37 per cent at 1271.50. The Nasdaq Composite Index was down 0.15 per cent at 2361.97.
- NZPA