Daytrading, Eminis, Forex trading, Swing Trading Market Analysis - 450774
Sammy King  |  by www.tradingmarkets.com. All rights reserved. 10.11 | 17:09

Receive Dave's best setups each evening from his favorite trading patterns.

Let Gary Kaltbaum send you timely emails to alrt when breakouts occure.
Every day receive the best plan of attack for the next day's trading directly from professional trader Kevin Haggerty.

(RTTNews) - The stocks of Port of Tauranga jumped up by 16.83% soon after the New Zealand market opened on Wednesday. The jump by the company's stocks came after the company announced that its merger talks with Ports of Auckland were well advanced and a decision was expected before Christmas.

The merger talks comes at a time when the New Zealand ports await word from the world's largest container line, Maersk, about which ports it will use in this country. The steep rise of Port of Tauranga's stocks pulled up the New Zealand market and the benchmark NZX-50 index was up 9.85 points at 3606.

68 at 10.10am. Other port companies also gained in the early trading on Wednesday.

Northland Port, in which Ports of Auckland is a major shareholder and Lyttelton Port, also registered significant gains. Another company to take advantage of the merger talks between the ports was Infratil, a major shareholder in Port of Tauranga. The Infratil stocks also rose by 1.

17%. Markets top stock, Telecom Corporation, recovered some of its recent losses and was up by 0.97% on Wednesday morning.

Market's no.2 stock, Fletcher Building was down by 0.45% after making some initial gains on Wednesday morning.

Sky City was also down by 0.38%. Contact Energy Limited posted a gain of 1.

24% in the day's early trading. The Major stocks which remained unchanged in the day's early trading included- AMP Limited, APN News Media Limited, AMP NZ Office Trust, Ebos Group Limited, Fisher Paykel Appliances, Freightways Limited, Hallenstein Glasson Holdings, Mainfreight Limited, Macquarie Goodman Property, Michael Hill International, New Zealand Oil Gas Limited, The New Zealand Refining Company, Promina Group Limited, Pumpkin Patch Limited, Sanford Limited, Steel Tube Holdings Limited, Tourism Holdings Limited, Telstra Corporation Limited and Vector Limited.

Read more on by www.tradingmarkets.com. All rights reserved.
Keywords: New Zealand, Group Limited, Holdings Limited, New Zealand Market, Zealand Market
Related news
Post comments
Name
Place
5 + 1 =
Comments