The NZX 50 index fell 8 points to 2591 during Wednesday morning trading, on turnover of $34 million.
At 12.20pm, Telecom was down 1 cent to $2.36, Fletcher Building fell 2 cents to $6.50 while Contact Energy fell 12 cents to $5.50
Pumpkin Patch was up 1 cent at $1.12 and Sky Television was unchanged at $3.95
Opus International Consultants was unchanged at $1.24 after telling shareholders at its annual meeting that the New Zealand economy will continue to provide the bulk of its future income.
In currency markets the dollar was trading at 58.33 US cents, 80.69 Australian, 39.15 pence, 57.8 yen, and 0.4397 euro. The TWI stood at 57.84.
The Australian 200 index fell down 6 points to 3746 in early trading.