KEY POINTS:
The sharemarket started the week, in which its largest stock Telecom reports its third quarter profit, on a positive note.
The NZSX-50 index was up 4.253 points to 4185.702. It made modest gains on Friday when t he Australian sharemarket fell 1 per cent.
Telecom was up 4c at 483 as attention turned to its third quarter result on Thursday. Reuters reported that Telecom is expected to report a net profit after tax of $225 million in the third quarter, little changed from $222 million last year. Comments about how much of the proceeds of the sale of its Yellow Pages Group will be returned to shareholders are eagerly awaited.
Fletcher Building was unchanged at 1146, while Infratil was up 8c at 595. Mainfreight was up 5c at 735. SkyCity was up 1c at 481.
Cavalier was down 1c at 316 and Contact Energy was down 4c at 911. Also falling were Nuplex 3c to 737, The Warehouse 2c to 690, Tower 2c to 223, TrustPower 3c to 812 and Port of Tauranga 5c to 635.
Fisher & Paykel Appliances, which last week joined the ranks of exporters shifting production to cheaper countries, was initially unchanged at 357.
- NZPA