2 Jun 2010

Market drops 1.2% on busier day's trading

9:48 pm on 2 June 2010

The benchmark NZX50 index was down 36 points, or 1.2%, at

3019 at close of trading on Wednesday, on turnover of $63 million.

The three big stocks were all down: Fletcher Building by 2c to $8.20, Telecom by 1c to $1.86 and Contact Energy by 17c to $5.76.

Fisher & Paykel Healthcare dropped a cent to close at $3.18 while Fisher & Paykel Appliances was unchanged at 56c.

Sky City Entertainment Group shed 7c to $2.88 and Sky Network Television 2c to $4.62. Auckland International Airport was down 5c to $1.85 and the Warehouse 1c to $3.53.

Allied Farmers picked up 0.3c to 53c.

On currency markets, the NZ dollar was at 67.35 US, 81.22 Australian, 45.85 pence, 61.53 yen and .5523 euro. The TWI stood at 65.78.

Across the Tasman, the benchmark S&P/ASX200 index was down 32.1 points, or 0.73%, at 4381, while the broader All Ordinaries index also lost 33 points, or 0.74%, to close at 4403.7.