19 May 2009

NZ sharemarket down slightly

10:39 am on 19 May 2009

The New Zealand share market index fell 13 points, or 0.5%, to close at 2778 on turnover of $73 million on Monday.

In the top stocks, Telecom was down 2 cents at $2.58, Contact Energy was up 1c at $6, while Fletcher Building rose 6c at $6.69.

Infratil was down 7c to $1.63 after reporting a $191 million annual loss, compared with a $1.7 million loss a year earlier.

Air New Zealand was up 1c at $1.07 after saying about 1,000 of its staff will see their pay frozen for a year as the national carrier battles the plunge in air travel.

The Australian share market finished lower, following a weak lead from overseas compounded by lower commodity prices and more capital raisings.

The S&P/ASX200 index closed down 37.6 points, or 1%, at 3735.6, while the broader All Ordinaries index lost 37.3 points, or 0.99%, to 3721.6.

Japanese share prices closed down 2.44%, hit by worries about the US economy and a growing number of domestic swine flu infections, dealers said.

The Nikkei-225 index lost 226.33 points to end at 9,038.69. The broader Topix index of all first section shares fell 21.94 points, or 2.49%, to 859.71.