It's been a mixed day on the New Zealand sharemarket, the benchmark Top 50 Index closed up 6 points to 5160.
First NZ Capital private client adviser Don Lewthwaite says the market's off the boil and it's been a pattern in the last few weeks that after quite a strong run the market has struggled to forge ahead.
He says institutions are rejigging their portfolios.
Mr Lewthwaite says greater interest in the likes of Meridian, Mighty River and Contact could be the result of people looking at the political polls and deciding the threat of a Labour Green government changing the structure of the power companies is receding.
He says there could also be selling ahead of the Genesis power float.
Shares in Fletcher Building fell 15 cents to $9.59, while Sky Television's shares rose 14 cents to $6.48.
NZ dollar falls against US
The New Zealand dollar fell more than a cent against the US dollar on Thursday after the new Federal Reserve chair, Janet Yellen, confirmed the Fed will cut its monthly money-printing programme by a further $10 billion a month to $55 billion.
Ms Yellen also painted a rosier picture of the US economy, which boosted the greenback.
ANZ senior foreign exchange strategist Sam Tuck says the Kiwi should remain strong against other currencies, especially in light of Thursday's strong economic growth figures and it's likely to weaken against the US dollar.
At 5pm on Thursday, the Kiwi was trading at 85.24 US cents, 94.53 Australian cents, 51.53 British pence, 0.6163 euro, 87.19 yen and 5.30 renminbi.
