24 Jun 2010

Sharemarket sheds five points on Thursday

8:26 pm on 24 June 2010

The benchmark NZX50 index fell five points to close at 3049 on Thursday on turnover of $50 million.

Among the big three, Fletcher Building was down 15c to $7.97, Telecom up 2c to $1.97 and Contact Energy down 1c to $5.89.

Auckland Airport was up 3c to $1.95 and Fisher & Paykel Healthcare up 2c to $3.16.

Sky City Entertainment Group gained 2c to $2.94 and Sky Network Television 1c to $4.93.

Nuplex was down 15c to $2.87, Mainfreight up 8c to $6.19 and NZ Oil & Gas down 3c to $1.27.

NZ Farming Systems Uruguay slipped 4cents to 40c, while Tenon rose 7c to $1.07 and the Warehouse 2c to $3.54.

On currency markets, the NZ dollar was at 71.18 US, 81.42 Australian, 47.52 pence, 63.92 yen and .5768 euro. The TWI stood at 68.27.

Across the Tasman

The Australian sharemarket closed marginally weaker as financial and property stocks responded to a tightening of their wholesale funding costs and continuing negative news from the US housing market.

Resource stocks gained ground on an early surge, with the market assuming a change of prime ministership will bring some resolution to the resources super-profits tax issue.

The benchmark S&P/ASX200 index was down 6.4 points, or 0.14%, to 4479.7 while the broader All Ordinaries index fell 5.3 points, or 0.12%, to 4504.1.