22 Jul 2012

NZX 50 drops more than 22 points on Friday

7:01 am on 22 July 2012

The NZX 50 benchmark share index dropped 22.07 points on Friday to close the week at 3463.7 on turnover of $103 million.

Over the past five weeks since 15 June it has risen 17 points - less than half a percentage point - from 3447 points.

Stocks which fell on Friday included Fletcher Building, down 1 cent to $5.83, cornerstone stock Telecom down 2.5 cents to $2.51, Chorus down 5 cents to $3.11, and Contact Energy down 4 cents to $4.85.

Other significant falls were recorded by SkyCity Entertainment Group, down 3 cents to $3.55, Sky Network TV down 4 cents to $4.94, Auckland Airport down 5.5 cents to $2.42, and Fisher & Paykel Healthcare down 3 cents to $1.95.

Methven was unchanged (at $1.26) and big box retailer The Warehouse rose 4 cents to $2.65.

Accounting software company Xero rose 12 cents to $5.52 after signing a deal with a US payroll provider earlier this week, and Diligent lifted 3 cents to $3.90.

At 5.10pm on Friday the NZ dollar was at 80.24 US cents, 77.09 Australian cents, 51.09 pence, 63.07 yen, 0.6545 of a euro and the TWI was at 72.48 points.