16 Mar 2012

NZ and Australian markets close lower

8:48 pm on 16 March 2012

The New Zealand and Australian markets both closed lower on Friday.

The NZX 50 was down 28 points to close at 3505 on turnover of $191 million.

The Australian 200 finished 2 points down at 4,276.

In currency markets the New Zealand dollar was trading at 82.20 US cents, 77.99 Australian cents, 52.29 pence, 68.52 Yen, 0.6276 euro and the The Trade Weighted Index stood at 73.43.

Fletcher Building was down 9 cents to $6.89. Telecom was down 7 cents to $2.46, Chorus was down 3 cents to $3.59 and Contact Energy was down 5 cents to $4.92.

Sky City Entertainment was down 7 cents $3.98 and Sky Television was up 1 cent at $5.30.

Tourism Holdings was down 2 cents to 63 cents, after Utilico Investments took a 7.1% stake in the firm.

Seeka was up 24 cents to $1.70 and Air New Zealand was down half a cent to $0.88.