27 Nov 2011

New Zealand markets fell on Friday

5:14 am on 27 November 2011

The NZX50 index fell 28 points at 3212 on Friday on turnover of $55 million.

In currency markets, at 5.20pm the NZ dollar was at 74.11 US, 76.50 Australian, 47.95 pence, 57.40 yen, 0.5573 euro, and the Trade Weighted Index stands at 66.49.

Telecom was down 7 cents at $1.93, and the newly listed Chorus fell 1c to $3.28.

Fletcher Building dropped 4c to $5.86, and Contact Energy was down 6c at $5.31.

Sky City Entertainment was down 4c at $3.30, while Sky Network TV rose 1c to $5.43.

The Warehouse fell 3c at $3.17 after warning its profit will fall about 8% in the current financial year, partly due to the cost of sprucing up its stores.

Tower remains unchanged at $1.47. It made $33.4 million in the year to September, a decrease of 43% on the same period a year ago, with quake costs totalling $23.6 million.

Fisher and Paykel Appliances was down 3c to 36c after its half-year profit fell by more than 90%, largely due to losses on currency hedges.

Fisher and Paykel Healthcare up 1c at $2.34

Allied Farmers slipped 0.2c at 4.8c, after saying it will establish a joint venture livestock company with stock agents.