27 Jan 2011

NZ market down, Australian up

1:57 pm on 27 January 2011

The New Zealand stock market was down slightly on Thursday.

At midday, the NZX 50 index was down 2 points, or 0.1% at 3353 on turnover of $11 million.

Fletcher Building was in a trading halt, pending an announcement about its takeover offer for the Australian building products firm, Crane Group.

Its shares closed at $7.89 on Wednesday.

Telecom was unchanged at $2.31 and Contact Energy was unchanged at $6.22

Hallenstein Glasson was up 3 cents to $3.89 after the company warned on Wednesday that its half year profit will fall by up to 18%, compared with the same period last year, due to lower sales.

Pumpkin Patch was down 11c to $1.46, after issuing a profit warning. Restaurant Brands was up 5c at $2.48. Sky Television was down 1c at $5.29.

Across the Tasman, the Australian 200 index was up 2 points at 4810.

At 1.40pm, the New Zealand dollar was trading at 77.41 US cents, 77.42 Australian cents, 48.59 pence, 63.55 yen and 0.5647 euro. The Trade Weighted Index was at 68.85.