11 Mar 2011

NZX slips

6:53 pm on 11 March 2011

The benchmark NZX 50 index fell 23 points to 3382 on turnover of $94 million at close of trading on Friday.

Fletcher Building fell 7 cents to $8.79. It now has acceptances giving it 51% of the Australian building and plumbing supplies company, Crane.

Telecom was unchanged at $2.04, but Contact Energy was down 2 cents at $5.97.

The Warehouse rose 7 cents to $3.45 after its half year profit fell by almost 9%.

Freightways fell 5 cents to $3.12. It is expecting to lose $1.5 million in gross earnings at its Christchurch branches for the 2011 June financial year, due to last month's earthquake.

Methven slipped 5 cents to $1.68 after the NZX announced on Thursday it would be included in its top 50 index from 21 March. It will replace Abano, whose stock has fallen 3 cents to $4.51.

Hallenstein Glasson remained unchanged at $3.62 while New Zealand Oil & Gas was down 2 cents to 92 cents.

Mainfreight fell 6 cents to $8.82 and Fisher & Paykel Healthcare lost 2 cents to $2.98, while Sky City Entertainment Group was unchanged at $3.39.

In currency markets, the NZ dollar was at 73.59 US, 73.35 Australian, 45.77 pence, 60.92 yen, and 0.5320 euro. The TWI stood at 65.29.