10 Feb 2009

New Zealand market slips

8:52 pm on 10 February 2009

The NZX50 slipped into negative territory on Tuesday, falling seven points to close at 2766 on turnover of $121 million.

The dollar was buying 52.68 US cents, 78.82 Australian cents, 35.76 pence, 48.18 yen and 0.4075 euro. The Trade Weighted Index was 52.88.

Across the Tasman, the Australian market closed down 0.5% as weak profit results undermined investor confidence.

The S&P/ASX200 index was down 19.9 points, or 0.57%, to 3488.7, while the All Ordinaries index shed 17.2 points, or 0.5%, to 3428.6.

On the Sydney Futures Exchange, the March share price index contract was 16 points lower to 3450 on a volume of 21,846 contracts.