15 Dec 2008

New Zealand market marks time

7:04 pm on 15 December 2008

The New Zealand share market marked time on Monday, with the NZX 50 index down 1 point to close at 2676 on turnover of $57 million.

Fletcher Building was down 6 cents to $5.76, Contact Energy was up 4c to $6.82 and Telecom was up 4c to $2.36.

Air New Zealand was unchanged at 84c after saying legal action for alleged price-fixing in the air freight market was unfounded.

NZ Oil & Gas was up 5c to $1.29. Sky Network Television was down 7c to $3.85.

The dollar was trading at 54.29 US cents, 82.64 Australian cents, 36.76 pence, 50.26 yen and 0.4102 euro. The Trade Weighted Index was 54.69.

Across the Tasman, the Australian share market closed firmly in the black, driven by stronger resource stocks after commodity price rises at the weekend.

The S&P/ASX200 index was up 81 points, or 2.31%, to 3591.4, while the All Ordinaries index rose 83.2 points, or 2.41%, to 3535.7.

On the Sydney Futures Exchange, the December share price index contract was up 51 points to 3588 on a volume of 68,642 contracts.