New Zealand stocks have gained as SkyCity Entertainment Group met guidance with first-half earnings hurt by a strong kiwi dollar.
The NZX 50 Index gained 21.089 points, or 0.4 per cent to 4869.972 on Wednesday.
Within the index, 23 stocks rose, 20 fell and seven were unchanged. Turnover was $110.9 million.
SkyCity rose 1.4 per cent to $3.65. It reported a net profit $66.4m, in line with guidance of $65m to $68m but down about eight per cent from a year earlier.
With casinos in Adelaide and Darwin, it said the high kiwi dollar and soft consumer spending on both sides of the Tasman had impacted on profits.
"SkyCity got a fairly good shellacking because of its guidance, but it wasn't as bad today as people thought it would be," said David Price, a broker at Forsyth Barr.
"What SkyCity alluded to today, which will be a theme throughout reporting season, was the strength of the kiwi against the Aussie dollar."
New Zealand's biggest listed company Fletcher rose 2.8 per cent to $9.41, near a three-month high.
The company counts Australia as its second-largest market and is due to report from Sydney next Thursday.
The risk of the high kiwi impacting its returns remains, said Mr Price.
Clothing chain Hallenstein Glasson gained up 4.9 per cent to $2.99.
Auckland International Airport fell 0.6 per cent to $3.64 after shareholders voted for a return of capital.
