The New Zealand stock market was down on Tuesday morning.
At 12.37pm, the NZX 50 index was down 2 points at 3490 on turnover of $41 million.
Fletcher Building was up 1 cent to $9.22, Telecom was down 15c to $2.12 and Contact Energy was down 2c to $5.84.
PGG Wrightson was up 1c at 51c after the Agria consortium bidding for PGG Wrightson declared its offer unconditional.
NZ Farming Systems Uruguay was up 15c to 70c after majority shareholder Olam International indicated it wants to take full control.
Sky City Entertainment was down 2c to $3.44 and Sky Television was up 4c to $5.88. Pumpkin Patch was up 1c at $1.29.
The Warehouse was unchanged at $3.55 after warning shareholders to be very wary of offers to buy their shares from Cargill Securities, which the Warehouse believes is associated with Bernard Whimp.
The Australian 200 index is closed for a public holiday.
The New Zealand dollar was trading at 79.87 US cents, 74.6 Australian cents, 48.5 pence, 65.25 yen and 0.5498 euro. The Trade Weighted Index was at 68.68.