15 Apr 2009

Market closes exactly where it started

8:13 pm on 15 April 2009

When the market closed on Wednesday, the NZX 50 index was 2600 - exactly where it had been at the start of trading. Total turnover was down at $76 million.

Telecom was up 1c at $2.38 and Fletcher Building down 2c at $6.50, but Contact Energy fell 15c to $5.47.

Sky City Entertainment Group rose 8c to $2.89 and Nuplex 4c to 35c.

Opus International Consultants was unchanged at $1.24 after telling shareholders at its annual meeting that the New Zealand economy will continue to provide the bulk of its future income.

Australia, Japan both slightly down

Across the Tasman, the Australian 200 index fell nine points to

3744 - marginally weaker than on Tuesday, with gains in the materials sector partially offsetting losses among financial stocks.

Japanese share prices closed down 1.13% after an overnight fall on Wall Street, where weak retail sales data dampened hopes of an economic recovery.

The Nikkei-225 index fell 99.72 points to 8742.96. The broader Topix index of all first-section shares declined 8.17 points, or 0.97%, to 835.25.

In currency markets the NZ dollar was at 57.80 US cents, 80.45 Australian, 38.81 pence, 56.84 yen, .4357 euro; the TWI stood at 57.35.