28 Sep 2011

Market flat in Wednesday's trading

7:43 pm on 28 September 2011

The benchmark NZX50 index closed flat on Wednesday, up only 5 points, or 0.1%, to 3,298.

Fletcher Building was down 3 cents at $7.54 after going ex-dividend, Telecom was up 0.5 cents at $2.58, and Contact Energy was up 7 cents at $5.44.

Sky City Entertainment fell 3 cents to $3.46, Sky Network TV rose 3 cents to $5.21 and The Warehouse rose 3 cents to $3.20.

PGG Wrightson was unchanged at 38 cents after the annual report revealed it paid managing director, Tim Miles, a $3 million termination fee when he left suddenly last October.

Mainfreight rose 10 cents to $9.85, Nuplex was down 6 cents to $2.89 and Hallenstein Glasson was up 2 cents to $3.45.

Pumpkin Patch was down 1 cent to 79 cents after the children's clothing retailer lost $1.8 million in the July year, a turnaround from the previous year's $25.5 million profit.

Tower rose 5 cents to $1.43, while Vector rose 4 cents to $2.48.

In currency markets, the NZ dollar was 78.45 US cents, 79.68 Australian, 50.25 pence, 60.12 yen and 0.5792 euro. The TWI stood at 69.57.