Fletcher Building shares reclaimed much of their losses of the past two days in early trading, shooting up 23c, or 3.3 percent, to 725.
On Monday and Tuesday, Fletcher shares dropped 30c in total ahead of today's full year results, which showed the company made a $46 million full year net loss, including unusual items of $360 million.
Net earnings after tax before unusual items for the year ended June 30 were $314m, down 33 percent from $467m the previous year.
The Fletcher Building share price gain helped push up the benchmark NZSX-50 index, which gained 6.05 points to 3061.52 around 10.15am.
Among the few other stocks to gain early, Nuplex was up 3c to 215.
Stocks falling early included Contact Energy, down 7c to 627, Trustpower down 5c to 755, Mainfreight down 5c to 490, and The Warehouse down 3c to 402.
Port of Tauranga lost 10c to 650 on low volume.
In the United States, stocks fell after a prominent banking analyst warned the sector's fundamentals have yet to improve, and an unexpectedly large drop in wholesale inventories raised worries about an economic recovery.
Financial stocks, which had gained about 25 percent in the past month, tumbled after Rochdale Securities analyst Richard Bove painted a gloomy outlook for the banking industry. He said bank stocks were trading on "fumes", and he expected a short term pull-back in their stock prices.
The Dow Jones industrial average closed down 1 percent to 9241.67, the Standard & Poor's 500 Index fell 1.3 percent to 994.33, and the technology-laced Nasdaq Composite Index slid 1.1 percent to 1969.73.
