TEL Telecom NZ Fpo Nz

0511 GMT [Dow Jones] The NZX-50 adds 0.7% to 30 points to 4244.21 as investors digest corporate results. Contact Energy (CEN.NZ) rises 3.4% to NZ$5.25 after it reported a jump in net profit in the July to December period, helped by tighter cost controls and some adjustments that helped to offset lackluster demand. Sky City (SKC.NZ) ends flat at NZ$4.02 as the market digested news that it remains willing to invest NZ$350 million in a convention center in Auckland after a report from the Auditor General's office saying there was nothing inappropriate in the government's decision to negotiate with the casino operator. Telecom (TEL.NZ) adds 1.1% to NZ$2.28 after news it will join forces with Telstra Corp. (TLS.AU) and Vodafone Group PLC's (VOD.LN) New Zealand unit to build Zealand's current internet data requirements. (rebecca.howard@wsj.com)

 
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