20 Mar 2009

NZ, Australian markets down

9:37 pm on 20 March 2009

The New Zealand and Australian markets finished the week lower on Friday.

The NZX top 50 index was down 34 points, or 1.3%, to 2599 on turnover of $76 million.

Top stocks were mixed. Telecom was down 12 cents to $2.33, while Contact Energy was up 6c to $6.10 and Fletcher Building gained 20c to $6.12.

The Australian share market closed the week marginally lower after falls in the financial sector offset gains on resource stocks.

The benchmark S&P/ASX200 dropped 14 points, or 0.4%, to close at 3466.2, while the broader All Ordinaries was down 11.4 points, or 0.33%, to 3405.4.

The Japanese market was closed for a holiday.