13 Jun 2011

NZ market down after tough week in US

1:10 pm on 13 June 2011

The New Zealand stock market is down after a brutal week for markets in the United States.

At 12.30pm on Monday, the NZX 50 index was down 15 points, or 0.4% to 3473 on turnover of $39 million.

The Australian 200 index is closed for the Queens Birthday holiday.

The New Zealand dollar was trading at 82.1 US cents, 77.77 Australian cents, 50.56 pence, 66 yen and 0.5721 euro. The Trade Weighted Index was at 70.96.

Fletcher Building was down 1 cent to $8.65, Contact Energy was down 2c at $5.82 and Telecom was down 5c at $2.265.

Sky City Entertainment was up 4c at $3.50 after being named the preferred bidder for a national convention centre in Auckland.

Wellington Drive Technologies was up 0.2c to 1.7c after announcing it will cancel 80% of its shares, and start a search for a new chief executive

Goodman Property was unchanged at 96c after securing two new leases at its Highbrook Business Park in Auckland and saying customer demand has improved.

Air New Zealand was up 1c at $1.06 and Auckland International Airport Ltd was down 2c to $2.24.

Fisher & Paykel Healthcare was up 2c to $2.95 and Fisher & Paykel Appliances was down 0.5c to 62c.

Restaurant Brands was down 4c at $2.54 and The Warehouse was down 2c to $3.67.