25 Sep 2009

NZ market ends trading week lower

9:38 pm on 25 September 2009

The New Zealand share market fell 19 points, or 0.6%, to close at 3111 on Friday on turnover of $77 million.

Telecom was down 1 cent to $2.62 per share, Fletcher Building fell 6c to $8.25 and Contact Energy was 5c at $5.71.

Fisher and Paykel Appliances fell 9c to 65c, while retailer The Warehouse was also down 9c to $4.

ANZ Group was unchanged at $28 due to a trading halt following its announcement of plans to buy ING operations.

Strong rises in banking stocks led a turnaround in the Australian share market in late afternoon trading.

Local shares had been posting losses during the first half of trade after a dip on Wall Street and commodity markets overnight, the ABC website reports.

But the All Ordinaries Index ended the day seven points higher at 4,715 and the ASX 200 closed up 12 points to 4,713.

In Japan, share prices closed down 2.64% following heavy losses on Wall Street where a disappointing report on United States home sales spooked investors, dealers said.

The benchmark Nikkei-225 index dropped 278.24 points to 10,265.98. The broader Topix index of all first section shares declined 27.53 points, or 2.90%, to 922.67, AFP reports.