Wednesday, Wellington stocks were trading in positive terrain on news that casino operator Sky City received another potential bidder for the company's takeover. The benchmark NZX 50 Index was adding 6.34 points or 0.15% to 4,318.50, while the NZX All Capital Index was gaining 6.14 points or 0.14% to 4,349.09. Among the top stocks, Telecom added 0.45%, Contact Energy gained 0.21% and Fletcher Building improved 0.23%. In the retail space, Hellaby Holdings advanced 0.71% and The Warehouse Group improved 0.18%, while Michael Hill eased 0.46%. Hallenstein Glasson and Pumpkin Patch remained unchanged. Among other stocks, Sky City advanced 0.56%, while Nuplex and Steel & Tube remained unchanged. Sky City announced that it received a "further credible expression of interest" in acquiring 100% of the company, while the earlier bidder had already commenced due diligence. On Tuesday, the company said that it would probably return cash to shareholders if it sells its Adelaide casino. Auckland International Airport lost 0.99% and Air New Zealand declined 0.88%. Energy scrips TrustPower and Vector remained unchanged.
October 16, 2007 8:36 PM