23 Jun 2012

NZx50 falls 48 points over week

5:22 am on 23 June 2012

The NZX50 index fell 10 points on Friday (down 0.3%) to finish at 3399 on turnover of $86 million.

This was 48 points down on the previous week's finish, when it ended trading on 15 June at 3447.

Fletcher Building fell 4 cents to $5.99, Contact Energy fell 3 cents to $4.75, Sky City Entertainment fell 7 cents to $3.40, Sky Network TV fell 1 cent to $4.91.

Two retailers also lost ground, The Warehouse fell 1 cent to $2.51 and Kathmandu fell 5 cents to $1.40.

Online auction operator Trade Me fell 7 cents to $3.67, and Xero fell 4 cents to $4.76 at the end of its first week in the NZX50.

Metlifecare fell 1 cent to $2.19 after the retirement village operator bowed to investor pressure on Thursday to revise its planned takeover offer for a third time to get the deal approved just hours later.

Telecom rose 3.5 cents to $2.46, Chorus rose 1 cent to $3.02, Air New Zealand rose 1.5 cents to 87.5 cents and Fisher & Paykel Healthcare up 1 cents at $1.93.

At the end of the business week the NZ dollar was trading at 78.78 US cents, 78.35 Australian, 50.47 pence, 63.35 yen and 0.6278 euro. The Trade Weighted Index was 71.58 points.