2 Nov 2009

NZX follows Wall St down

6:21 pm on 2 November 2009

The New Zealand sharemarket has fallen on the back of hefty losses on Wall St, with the benchmark NZX 50 index down 31 points, or 0.9%, to 31.83 on Monday.

Fletcher Building fell 14 cents to $8.18, Telecom 3 cents to $2.51, and Contact Energy 10 cents to $6.16.

Sky City Entertainment was down 6 cents to $3.41, Auckland International Airport 4 cents to $1.98, Fisher & Paykel Healthcare 3 cents to $3.07 and the Warehouse 8 cents to $4.46.

Infratil was unchanged at $1.63 after forcing the City of Luebeck to buy back Infratil's 90% stake in Luebeck Airport for $64 million.

Across the Tasman, the Australian 200 index was down 92 points, or 2%, to 45.55.

In currency markets, the NZ dollar was trading shortly after 5pm at just over 72 US cents, 79. 9 Australian, 43.85 pence and 65.1 yen and 0.4888 euro. The TWI was 64.99.