14 Oct 2011

Fletcher Building shares edge up

1:41 pm on 14 October 2011

Fletcher Building stock rebounded slightly on Friday after a profit warning on Wednesay sparked a 16% fall in the company's share price.

More than $800 million was wiped off the value of the shares following the profit warning in which the firm said weak Australasian housing markets and further delays in Christchurch's rebuilding would hurt earnings.

On Friday morning the listed building products and construction firm's shares rose 4 cents (0.6%) to $6.71 at about midday.