18 Nov 2009

Market closes three points down

7:21 pm on 18 November 2009

The New Zealand sharemarket was down 3 points at close on Wednesday, with the benchmark NZX 50 index 0.09% lower at 3128.

Among the major stocks, Fletcher Building dropped 6c to $7.90, Telecom rose 4c to $2.56 and Contact Energy fell 4c to $5.90.

SkyCity Entertainment was up 8c to $3.42 but Sky Network Television lost 18c to $4.76.

Allied Farmers gained 2c to 35c after saying it planned to buy Hanover Finance and United Finance's loan books in a deal worth $400 million.

Infratil remained flat at $1.51 after saying it would be disappointed it a deal wasn't struck to buy Shell's downstream assets.

In the currency markets the kiwi was trading at 74.35 US cents, 80.19 Australian, 44.2829 pence, 66.32 yen and 0.501 euro, while the TWI stood at 66.26.

The Australian sharemarket closed in positive territory after lacklustre trading as investors awaited key data from overseas.

The benchmark S&P/ASX200 index was up 9.6 points, or 0.2%, at 4739, while the broader All Ordinaries gained 9.4 - also a gain of 0.2% - to 4759.6.