The New Zealand share market continued to fall on Tuesday, with the NZX 50 index closing down 39 points to 3040.
Telecom finished up 2 cents to $3.34, Contact Energy was down 25c to $7.15 and Fletcher Building was down 14c to $6.11.
Sky City Entertainment was down 67c to $2.96 after confirming on Monday that it would make a profit of between $108 million and $110 million. Goodman Feilder was down 6c to $1.67.
The dollar was buying 76.56 US cents, 78.57 Australian cents, 38.31 pence, 81.05 yen and 0.4805 euro. The Trade Weighted Index was 67.64.
Australian market plunges
The Australian share market plunged 2% on Tuesday amid heavy losses from the banks on continuing uncertainty about the economic outlook after the United States Treasury bailed out home mortgage lenders Freddie Mac and Fannie Mae.
The S&P/ASX200 index was down 105.3 points, or 2.14%, to 4815.7, while the All Ordinaries dropped 97.8 points, or 1.95%, to 4910.1.
At 1615 AEST on the Sydney Futures Exchange, the September share price index contract was 126 points lower at 4,811, on a volume of 28,216 contracts.Across the Tasman, the Australian 200 index was down 123 points to 4797 by late Tuesday afternoon.
