New Zealand share prices rose 0.15 percent on Monday as investors chose to stick to the sidelines amid uncertainty on the future direction of the market and a US interest rate decision, dealers said. The benchmark NZX-50 index rose 6.05 points to close at 4,168.72 on light turnover worth 68.08 million dollars (48.6 million US).
There were 50 rises and 52 falls among 141 stocks traded. Trading was stuck in a tight range and very selective, ABN Amro Craigs retail adviser Nigel Scott said. Market leader Telecom rose two cents to 4.37 dollars and infrastructure investor Infratil also added two cents, closing at 2.82 dollars.
Jewellery chain Michael Hill rose 40 cents to a year high of 10.90 dollars on light turnover. Financial services firm Tower rose five cents to 2.30 dollars, Contact Energy added four cents to 9.01 and PGG Wrightson was up four cents at 1.82. Fletcher Building rose 15 cents to 12.14 dollars and discount retailer The Warehouse added five cents to 6.00. Pay television operator Sky TV fell 10 cents to 5.50 dollars and Auckland Airport was down six cents at 3.05.