KEY POINTS:
The New Zealand sharemarket was looking up at the start of the new trading week, following a jump on United States markets to end last week.
Fletcher Building and Sky City both made solid early gains.
The former was up 7c to 1152, on turnover of 245,000 shares, having dropped 4c on Friday.
Sky City picked up 5c to 485, adding to a gain of 7c at the end of last week on $6.6 million worth of shares.
The benchmark NZSX-50 index was up 6.63 points to 4189.53 around 15 minutes after the market's 10am opening.
Property for Industry was up 1c early to 148, after announcing net profit after tax rose 3.4 per cent to $3.7 million for the three months to the end of March.
Top stock Telecom dropped 1c early to 489, having gained 5c on Friday when nearly $50 million in shares was traded.
Brokers said Telecom was recovering from a period of weakness based on regulatory uncertainty, as shareholders anticipated a windfall from the sale of Telecom's directory business.
Other stocks to rise early included Auckland International Airport up 2c to 238, Cavalier up 3c to 338, Contact Energy up 1c to 906, Hallenstein Glasson up 2c to 489, Mainfreight up 2c to 750, and Tower up 2c to 227.
Shares to slip early included Pumpkin Patch down 1c to 425, Sky TV down 1c to 615, and Telstra down 1c to 535.
- NZPA