26 Aug 2008

Sharemarket down five points

9:51 pm on 26 August 2008

The New Zealand sharemarket closed down five points to 3321 on Tuesday on turnover of $78 million.

Contact Energy was up 4c to $8.35 after the electricity generator and retailer posted a $237.1 million profit for the year to June - a decrease of 1% on the previous year.

Air New Zealand was down 2c to $1.20 after annoucing that its underlying earnings dropped 24% to $197 million in the year to June because of rising jet fuel prices.

Telecom was down 7c to $3.29, while Fletcher Building was down 4c to $7.35.

The Warehouse was up 1c to $3.36. Auckland International Airport was unchanged at $2.01.

The dollar was buying 69.62 US cents, 81.05 Australian cents, 37.74 pence, 76.39 yen and 0.4736 euro. The Trade Weighted Index was 65.07.

The Australian sharemarket closed marginally lower, with mixed performances from many sectors after a weak lead overnight from the United States provided little direction.

The S&P/ASX200 index was down 7.4 points to 5007.5, while the All Ordinaries shed 7.8 points to 5,082.3.

The September share price index futures contract lost five points to 4996 on a volume of 30,392 contracts.