KEY POINTS:
Some upward movement for the sharemarket in early trade today, with leading stocks Telecom and Fletcher Building both starting in positive territory.
Around five minutes after the market's 10am opening the benchmark NZSX-50 index was up 10.31 points to 4248.97, adding to a 15.1 point gain yesterday.
Fletcher Building was up 5c early to 1215 having lost 2c yesterday, while Telecom added 2c to 463 after falling a cent yesterday.
Fisher & Paykel Healthcare looked to still be gaining from an easing New Zealand dollar that could provide some relief for beleaguered exporters. It was up 6c early today to 334, on top of a 4c gain yesterday.
Pumpkin Patch was 2c ahead early to 360, on top of a 10c gain yesterday, while Auckland International Airport added 2c, cancelling out its drop yesterday, to 330. Air New Zealand also added 2c early to 258.
Other stocks up early included Tower, ahead 2c at 250 and Steel & Tube, up 1c to 470.
Stocks to fall early included Contact Energy which was down 2c to 911 after yesterday's 13c rise, while Calan Healthcare was down 2c to 138, Infratil 1c to 316, Property for Industry 1c to 148, Port of Tauranga 1c to 680, Restaurant Brands 1c to 84 and Sky TV 1c to 564.
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In the US, stocks rose on growing optimism about second-quarter earnings and plans by Johnson & Johnson and ConocoPhillips to buy back their own shares.
The Dow Jones industrial average rose 0.28 per cent to end at 13,649.97. The Standard & Poor's 500 Index was up 0.09 per cent at 1531.85. The Nasdaq Composite Index was up 0.13 per cent at 2670.02.
- NZPA