4 Oct 2011

New Zealand market ends Monday down 0.8%

4:48 am on 4 October 2011

The NZX50 index lost 28 points on Monday, ending the day down 0.8% at 3316. Turnover was $53 million.

In the currency markets, at 5.20pm the New Zealand dollar had fallen further against its US counterpart, buying 75.8 US, 78.99 Australian, 48.85 pence, 58.45 Yen, 0.5693 euro and the TWI was at 68.02

Among the major share movements: Fletcher Building was down 20 cents at $7.55, Telecom down 2 cents at $2.62, and Contact Energy up 7 cents at $5.52.

Sky City Entertainment lost 2 cents to $3.33, Sky Network TV was down 3 cents to $5.40, Fisher & Paykel Healthcare was down 3 cents to $2.50, and The Warehouse unchanged at $3.20.

Freightways gained 6 cents to $3.26 after it agreed to purchase Iron Mountain New Zealand for $12.7 million

Tower was unchanged at $1.39 after announcing its insurance premiums will increase, after it paid more to get reinsurance coverage.

Mainfreight was unchanged at $9.80, Hallenstein Glasson was down 3 cents to $3.37, and Trustpower was down 5 cents at $7.03.

Allied Farmers was down 0.1 cent to 0.03 cents after it announced its annual report will be filed to the market late.

Vector gained 1 cent to close at $2.57 after the Commerce Commission suspended the resetting of regulated electricity prices.