The NZX 50 index was down 11 points to 2713 at 12.30pm on Wednesday, on turnover of $12 million.
Fletcher Building was down 1c at $5.61, Telecom was up 1c at $2.34, and Contact Energy fell 5c at $6.90
The Warehouse is down 2c at $3.26 after announcing it is pulling out of the liquor business.
Pumpkin Patch was unchanged at $1.03 and Sky Television fell 4c at $3.86.
In currency markets the dollar was trading at 54.15 US cents, 82.35 Australian, 36.72 pence, 49.96 Yen, and 0.4191 euro. The TWI stood at 54.51.
Across the Tasman, the Australian 200 index was down 17 points to 3586 in early trading.
