16 Nov 2011

Markets down on Wednesday

7:21 pm on 16 November 2011

The stock market closed down on Wednesday with the benchmark NZX50 index dropping 35 points, or 1%, to 3281.

In currency markets, the NZ dollar has fallen and is at 76.65 US , 76.07 Australian cents, 48.65 pence, 59.14 yen and 0.5702 euro. The Trade Weighted Index was at 67.85.

Telecom was down 8 cents at $2.55 and Contact Energy was down 9 cents at $5.41.

Fletcher Building was down 25 cents at $6.15 after reiterating its profit downgrade, and saying it has laid off hundreds of staff.

Sky City Entertainment was up 1 cent at $3.50, Sky Network TV down was 7 cents at $5.30 and Fisher & Paykel Healthcare was up 1 cent to $2.39.

Kiwi Income Property Trust was down 2.5 cents to $1.06 after a sharp fall in its half year profit to $1.5m.

Infratil was up 1 cent at $1.89 after reporting a half year profit rise of 12% rise to $89 million dollars on Tuesday.

Rakon was unchanged at 60 cents after reporting a loss of $259,000 in the six months to the end of September.

Ryman Healthcare was up 1 cent to $2.59, Tower was up 2 cents to $1.50 and AMP was down 6.5 cents to $5.66.

The Warehouse was down 1 cent at $3.25, Kathmandu was down 3 cents to $2.60 and Hallenstein Glasson was down 14 cents to $3.86.

Vector was unchanged at $2.55.