14 Sep 2009

Earlier gains reversed in 0.3% fall

7:42 pm on 14 September 2009

The NZX 50 index reversed earlier gains by close of trading on Monday, falling 9 points, or 0.3%, to finish at 3129 on turnover of $36 million.

Telecom was unchanged at $2.72, while Fletcher Building was down 4c to $7.91, Contact Energy fell 5c to $6.01 and Air New Zealand shed 4c to $1.21.

Sky City Entertainment Group was up 5c at $3.33 and Sky Network Television was up 1c at $4.76.

New Zealand Oil and Gas rose 5c to $1.66, while Wellington Drive Technologies dropped slightly to 9.7c after saying it planned to raise $8.5 million from its main shareholder.

In currency markets the dollar was trading at 69.79 US cents, 81.43 Australian, 41.98 pence, 63.10 Yen, and .4795 euro. The TWI stood at 63.77.

The Australian sharemarket closed lower on Monday in subdued trading as investors waited for something to provide them with some solid impetus.

The benchmark S&P/ASX200 index fell 65 points, or 1.41%, to 4531.1, while the broader All Ordinaries index dropped 60.2 points, or 1.31%, to 4536.1.