New Zealand stocks up

New Zealand share prices closed 0.43 percent higher on Tuesday but sentiment remained relatively cautious following recent volatility in world markets, dealers said. The benchmark NZX-50 index rose 17.59 points to 4,105.72 on turnover of 145.9 million dollars (101.5 million US). Rises outnumbered falls by 60 to 35 among the 147 stocks traded.
Stocks have made modest gains since sharp falls in world markets in recent weeks and defensive companies were attracting investors, Jeremy Coe of Goldman Sachs JBWere said. Market leader Telecom was unchanged at 4.83 dollars. Media company CanWest MediaWorks was unchanged at 2.18 dollars and The Warehouse was up two cents at 6.82 while Fisher and Paykel Appliances was down seven cents at 3.68.