Shares up slightly in early trading

The stock exchange gained slightly in early trading today, with moderate volumes of shares changing hands.

The NZX50 index gained 2.572 points, climbing to 3211.635 in early trading.

With little news to influence the market, most investors were waiting for the reporting season to kick-off in February, Hamilton, Hindin, Greene director Grant Williamson said.

In major shares, Telecom gained 1c to $2.45, Contact stayed at $5.98 and Fletcher Building fell 3c to $8.15.

Restaurant Brands also fell, shedding 1c to $1.74. Tourism Holdings fell 1c to 92 and Tower also fell 1c, to $2.02.

Fisher & Paykel Appliances gained 1c to 62, NZ Refining 5c to $4.00, Fisher & Paykel Healthcare 2c to $3.36, NZ Oil and Gas 1c to $1.58 and Skycity 1c to $3.38. Air New Zealand gained 1c to $1.20.

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On Wall Street, US stocks slipped on Tuesday as solid earnings and consumer confidence data were tempered by trepidation before major political and regulatory developments expected later in the week.

The Dow Jones industrial average eased 3.40 points, or 0.03 per cent, to 10,193.46, according to the latest available figures. The Standard & Poor's 500 Index lost 4.65 points, or 0.42 per cent, to 1092.13. The Nasdaq Composite Index dipped 7.07 points, or 0.32 per cent, to 2203.73.

- NZPA