New Zealand shares post small gain

New Zealand shares eked out minor gains in subdued trade on Monday, bolstered by strength in consumer and utilities sectors, while Australian markets were closed for a public holiday. New Zealand's benchmark S&P/NZX 50 index was 0.16 percent, or 12.08 points higher, at 7,448.18 by 0232 GMT. Financial markets were closed in Australia for a public holiday.
"We have a reasonable Australian institutions presence on our market here, so we will have a pretty quiet Monday," said James Smalley, director/investment adviser at Hamilton Hindin Greene. Gains in consumer and utilities stocks helped counter losses in tech and industrial sectors. Sky Network Television Ltd and a2 Milk Company, adding 2.9 percent and 1.2 percent respectively, were the benchmark index's biggest gainers by weight. Auckland International Airport and Fletcher Building were the biggest losers, down about 0.4 percent each.