On the markets, the NZX50 is up four points to 3219.

Fletcher Building is up two cents to $8.12, Steel and Tube up 5c to $2.69, Air NZ up 1c to $1.32, F&P Healthcare up 3c to $3.35, Goodman Fielder up 2c to $2.07, Kiwi Income Property up 1c to $1.02, Millennium and Copthorne Hotels up 2c to $0.45, NewOceana up 6c to $3.42, PGG Wrightson up 1c to $0.60, Telstra up 1c to $3.85.

NZ Exchange is down one cent to $1.95, Sky City Entertainment down 1c to $3.28, Tower down 2c to $1.97, TrustPower down 2c to $7.25, Vector down 1c to $2.06.

The New Zealand dollar is trading at 69.95 US cents, 76.86 Australian cents, 51.25 Euro cents, 63.17 yen and 46.18 pence.

The 90 day bank bill rate is 2.70 percent and the TWI is at 64.97.