9 Aug 2011

NZ shares continue to fall

3:39 pm on 9 August 2011

The New Zealand sharemarket was almost 4% in early afternoon trade on Tuesday and the dollar is continuing to slide.

At 1.55pm, the NZX 50 index had dropped 3.8% to 3065, while the Kiwi dropped another cent to US80.5 cents.

At midday on Tuesday, Fletcher Building shares were down 28 cents to $7.20, Contact Energy was down 6c at $4.85 and Telecom was down 11c at $2.375.

Sky City Entertainment Group was down 12c at $3.24, Sky Network TV was down 13c at $5.46, Fisher & Paykel Healthcare was down 4c at $2.26 and Auckland International Airport Ltd was down 8c to $2.09.

The Warehouse was down 10c at $3.24, Air New Zealand was down 2c to $1.06 and Pumpkin Patch was down 5c at 89.

New Zealand Refining Ltd was down 5c to $3.35 and New Zealand Oil & Gas was down 4c to 60c.

Vector was down 11c to $2.24 and Steel & Tube was down 7c to $2.18.

ANZ was down 86c to $22.35, Westpac was down 90c to $22.70 and AMP was down 30c to $4.65.