Fletcher Leads Market Closes Higher

Fletchers has strong week

The NZ sharemarket surged 13c points higher today to close at 3295 buoyed by a strong rise by Fletcher Building.

FBU was up 14c to $6.54 after the Prime Minister John Key said yesterday that the rebuild of Christchurch is the Government’s major priority. FBU is the leading reconstruction manager for the billion-dollar rebuild.

Other heavyweights gained ground: AMP was up 8c at $5.55, Mainfreight 16c to $9.91 and Port of Tauranga 10c to $10.40.

Electronics manufacturer Rakon jumped 8c or 8% to 67c.

OceanaGold added 10c at $3.10.

 Nuplex was up 4c at $2.47 and SKY TV 7c at $5.15.

EBOS lost 10c at $7.05 and Cavalier 15c at $2.35, a decline of 6%.

There were 57 rises and 42 falls.

Share this article