19 May 2014

NZ shares weaker, little dollar change

6:08 pm on 19 May 2014

New Zealand shares closed weaker on Monday, with the benchmark Top 50 Index falling 18 points to 5168.

An investment advisor at Forsyth Barr, Dirk Mostert says trading has been subdued.

He said the market is waiting on news due out of the United States later in the week. He said data is also due out of the Australian Reserve Bank and the Australian inflation figures are due next week.

Shares in Abano Healthcare fell seven cents to $6.93 with just over 1,000 shares traded. Abano's shares have risen more than 16 percent in the last three months.

Goodman Fielder shares were unchanged at 74 cents on the NZX but in Australia they were up more than three percent to almost 69 cents, just below the offer price.

The Goodman Board's support for the offer is unless a higher offer emerges and also depends on an independent expert recommending the offer.

The New Zealand dollar was little changed on Monday evening, from last Friday.

BNZ Foreign Exchange strategist Raiko Shareef said there is little data out this week which may move the dollar.

He said the only things to watch for will be the New Zealand dairy auction on Wednesday morning, along with net migration figures, but a quiet week ahead was expected.

At the end of the business day on Monday, the dollars was trading at 86.35 US cents, 92.34 Australian cents, 51.33 British pence, point-6302 euro, 87.59 yen and 5.39 renminbi.