27 Aug 2010

NZ market lower at end of trading week

9:39 pm on 27 August 2010

The New Zealand sharemarket fell 11 points to finish the week at 3007 on turnover of $91 million.

Fletcher Building was down 1 cent to $7.52 per share, Telecom fell 2c to $2 and Contact Energy was 3c lower at $5.76.

Sky City Entertainment gained 3c to $2.91, while Sky Network Television was down 7c to $5.

Air New Zealand rose 2c to $1.22 after its annual underlying profit fell by a fifth to $92 million on Thursday and it forecast rising demand.

Vector was up 4c to $2.12, after increasing its full-year profit by 17% to $193.5 million.

Delegats was up 3c to $1.63 following a profit of $200,000 in the year to June.

At 5.20pm on Friday, the New Zealand dollar was trading at 70.54 US, 79.43 Australian, 45.47 pence, 59.79 yen and 0.5546 euro. The Trade Weighted Index stood at 66.14.