KEY POINTS:
A rise in Fletcher Building shares boosted an otherwise quiet session on the New Zealand sharemarket today.
Volume was a light $85 million in value, but the NZSX-50 benchmark index rose 19.47 points or 0.45 per cent to 4325.09.
Falls outnumbered rises 57 to 47 on 138 stocks traded.
Trading was patchy, with only Telecom and Fletcher Building standing out, Don Lewthwaite of First NZ Capital said.
"It's looking for direction despite strong markets overseas."
Fletcher Building closed up 17c to 1295 following the end of local authority elections . The company is expected to win a couple of major infrastructure contracts.
Telecom rose 5c to 449 on no specific news.
Casino operator SkyCity shares were briefly halted on the stock exchange today as the regulator assessed rumours surrounding the takeover target. In recent days the company has signalled there may be another bidder in the wings, although only one undisclosed suitor is doing due diligence at present.
The NZX said it decided the rumours were uninformed, and SkyCity shares closed up 2c to 530.
Jeweller Michael Hill dropped 26c to 1100 after a bull run and disappointing sales figures on Thursday.
Infratil rose 3c to 308 after releasing mixed September passenger numbers for its Wellington and overseas airport investments.
Other moves included Auckland Airport down 4c to 306, Air NZ down 2c to 230, NZOG up 4c to 104, Ebos up 6c to 505, Contact down 7c to 950, and ANZ up 45c to 3700.
- NZPA