3 Nov 2011

Markets close down on Wednesday

4:58 am on 3 November 2011

The NZX50 index closed down 23 points, or 0.7%, at 3308 on Wednesday.

In currency markets, the NZ dollar was at 79.4 US, 76.72 Australian, 49.72 pence, 62.08 yen, 0.5791 euro, and the Trade Weighted Index stands at 69.55.

Telecom rose 4 cents to $2.61, Fletcher Building fell 19 cents to $6.45 and Vector fell 6 cents to $2.52.

Contact Energy was unchanged at $5.68 after announcing it is considering a $150 million dollar bond issue.

Summerset fell 3 cents to $1.38 after listing on the stock exchange this week.

PGG Wrightson was unchanged at 41 cents after saying it will get back on an even keel at its annual meeting.

Sky City Entertainment fell 9 cents to $3.40 and Sky Network TV was unchanged at $5.50.

Air New Zealand fell a cent to $1.04 and Auckland Airport fell 2 cents to $2.33.5

Mainfreight was unchanged at $9.72 and Nuplex was unchanged at $2.61 after holding its annual meeting in Auckland.

The Warehouse fell 9 cents to $3.25 after going ex dividend.

Westpac fell 45 cents to $28.10 even though it reported a stronger full-year result due to higher income and a fall in bad debt.