NZ sharemarket follows US gains

The New Zealand sharemarket opened positively this morning, taking heed of good news from the United States and ignoring Japanese and Australian market softness.

The benchmark NZX-50 index opened at 3076.451 and rose 20.9 points, or 0.68 per cent, to 3095.147 at 10.15am.

Nearly two dozen stocks made gains in the opening minutes. In the heavy traders Telecom was up 2c to $2.30, Auckland Airport rose 1c to $1.88 and Goodman Property Trust gained 1c to $1.03.

Sky TV lifted 1c to $4.76, Sky City sparked 6c to $3.24 and Fisher & Paykel Appliances rose 1c to 62.

Nuplex improved 5c to $3.20, Air New Zealand gained 2c to $1.30, Ryman Healthcare was up 3c to $2.05 and Fletcher Building gleaned 9c to $7.55.

The only stocks in the top 50 to lose ground were AMP NZ Office Trust, down 2c to 74, and Cavalier, slipping 3c to $2.77 on low volumes.

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The Australian sharemarket yesterday closed weaker after Macquarie Group disappointed investors and as concerns about Europe's sovereign debt flowed through to local bank stocks.

The benchmark S&P ASX200 index was down 16.3 points, or 0.36 per cent, at 4505.1 points, while the broader All Ordinaries index shed 18.1 points, or 0.4 per cent, to 4520.7 points.

Japan's Nikkei stock average edged down to a two-month closing low yesterday, with heightened concerns about the euro zone's sovereign debt woes continuing to eat away at investor confidence. The Nikkei shed 0.2 per cent or 18.92 points to 9932.90, marking its lowest close since December 10.

US stocks rose broadly yesterday, with the Dow on track for its largest daily percentage advance since July, on reports euro zone countries will come to the aid of debt-stricken Greece. The Dow Jones industrial average rose 205.64 points, or 2.08 per cent, to 10,114.03. The Standard & Poor's 500 Index added 20.05 points, or 1.90 per cent, to 1076.79. The Nasdaq Composite Index gained 35.34 points, or 1.66 per cent, to 2161.39.

- NZPA