NZX makes gains in early trading

The benchmark NZX-50 rose as trading opened today, gaining two points to 3190.838, after a quiet day on the market yesterday as traders looked overseas and waiting for the reporting season to kick off mid-February.

The index has been shedding points and tracking steadily downwards since January 12, when it hit 3303.206.

Among leading shares at 10.20am, Telecom was up 1c to $2.40, Fletcher Building was up 3c to $8.05 and Contact was down 5c to $6.00.

"I think most investors locally are just buying time as we wait for the reporting season to kick-off in February. There is really a lack of domestic news to influence our prices at the moment," Hamilton, Hindin and Greene director Grant Williamson said.

Other shares showing early action were Auckland Airport, up 1c to $1.88, Fisher & Paykel Appliances , up 1c to 61c, and Port Tauranga, up 5c to $7.15 with small volumes traded. The Warehouse was up 5c to $3.90 and Infratil was up 1c to $1.64.

Goodman Property fell 1c to $1.02, ING Medical fell 1c to $1.17 and AMP Office Trust fell 1c to 74c.

- NZPA