NZ stocks close marginally higher

Reported by AAP
Tuesday, September 20, 2011

Share with MessengerShare

New Zealand stocks have edged up, with investors cautious after Standard and Poor's downgraded the Italian government's credit rating, sparking fears that Europe's debt crisis may be spreading.
Top business news

    * Double-digit property falls linked to FIFO

    * IATA ups 2011 airlines profit outlook

    * TPG subscriber growth to continue

+ MORE BUSINESS NEWS
Currency Converter
Amount to convert
From
To
or Table of all exchange rates

    * Company overview
    * Company news
    * ASX announcements
    * Financial history
    * Shareholders
    * Forecasts

Downtime

    * Happiest vs Most hated jobs: Is bureaucracy a bad thing?
    * Is boredom between you and success?
    * The last pinball wizards keep game alive

+ MORE DOWNTIME NEWS
altTax Time 2011Doing your tax doesn't need to be daunting! Check out ninemsn Finance's Tax Time for tips and advice on how to make your 2011/12 tax return work for you.

The NZX 50 Index rose 2.3 points (0.1 per cent) to 3,290.62 on Tuesday.

Within the index, 17 stocks rose, 25 fell, and eight were unchanged.

S and P, the world's biggest rating agency, cut Italy's credit rating to A from A+ and put it on negative outlook on concerns about on weakening economic growth, mounting debt levels and the increasingly precarious position of the government.

"The index has been hovering around breakeven for the entire day with most investors sitting on the sidelines observing what is happening overseas," said James Smalley, a client adviser at Hamilton Hindin Greene.

"On the sell-side we've come through a reasonably good reporting season, so investors are just happy to sit on stock and wait for their dividend payments."

Kathmandu rose 3.8 per cent to $2.19 ahead of its full year results.

It is expected to deliver a 36 per cent increase in full-year pre-tax earnings to $65 million on Wednesday, according to research by Goldman Sachs.

Contact Energy rose 3 per cent to $5.43 after the company's monthly operational report suggested its discount programme appeared to have stopped customer churn.

Fisher and Paykel Healthcare rose 2.7 per cent to $2.30 as workers at its Highbrook plant voted on an amended pay offer that could avert a planned strike on Wednesday.
Keep reading - next article

    * Aust stocks close lower ahead of meetings

More articles

    * Japan to unveil yen mitigation package
    * Talking Up Uranium
    * Stocks to watch on Tuesday
    * International financial news

Sponsored Links
Carpet Cleaning Sydney
3 Rooms steam cleaned from $59.00 Free Quote 1300 764516.
www.aquaqleencleaning.com.au
Income Protection for Your Budget
15 Quotes - Rate Detective
www.ratedetective.com.au
Fast Life Insurance Quotes
We get you the best deal. Free quotes.
www.creditworld.com.au/Life-Insurance
IPP
Free Property Investment Report 2011
www.investmentpropertypartner.com.au
20/09/2011 21:48Sydney, Australia. 20 September,2011

advertisement
Most Recommended

Search RateCity

    * Find a personal loan
    * Find a credit card
    * Find a home loan
    * Find a savings account