NZ Sharemarket Improves

NZ Sharemarket ImprovesThe New Zealand sharemarket was witnessed to show some marginal improvement today prompted by Telecom's share price that grabbed pace from a record low level.

However, investors seem to be jittery about the non-farm payroll data in the United States.

"It's been quite quiet today. We probably didn't fall to the same degree as other markets did recently so it is probably not too surprising", quoted, Forsyth Barr broker Suzanne Kinnaird.

The benchmark NZX-50 index registered rise 6.035 points, or 0.2%, closing at 3030.136. Turnover reported stood at $69.99 million. There were 34 rises and 28 falls witnessed among the 99 stocks traded.

New Zealand managed to perform extra-ordinary compared to other markets in the region today, following its under-performance in recent days.

The concern in the financial markets next week that seems to arise is directed towards the Reserve Bank of New Zealand's monetary policy statement on Thursday.

Telecom witnessed to climb 3c touching 186, following its slip to a new record low of 182 yesterday. Fletcher Building marked a plunge 2c to 818 and Contact Energy 2c to 575. TrustPower rose 2c to 720.

Dual-listed Australian banks outpaced the rest of the market, tracking gains on the Australian bourse. ANZ Bank added 3.9% to NZ$28.25, while Westpac gained 3.2% to NZ$28.40.