7 Dec 2010

NZX falls

11:15 pm on 7 December 2010

The benchmark NZX50 index slipped 11 points to close at 3281 on Tuesday.

Fletcher Building fell 7 cents to $7.83 while Contact Energy lost 4 cents to $6.17.

Telecom was down 3 cents to $2.15 after Northpower and Ultra Fast Fibre, which is owned by Waikato-based WEL Networks, signed deals with Crown Fibre Holdings to lay ultra-fast broadband fibre in Whangarei, and Hamilton, Tauranga, New Plymouth and Wanganui.

Vector rose 5 cents to $2.48, Fisher & Paykel Healthcare was up 4 cents to $3.17, and Fisher & Paykel Appliances rose 1 cent to 58 cents.

Auckland Airport was unchanged at $2.07, while Air New Zealand was up 1 cent to $1.42.

Pike River Coal is on a share trading halt. It last traded at 88 cents. Its 29% owner, NZ Oil and Gas, is unchanged at 89 cents.

Hallenstein Glasson is down 13 cents at $4.07 after its annual meeting in Christchurch. It told investors the competition in the retail market is hotting up, and it's having to discount stock to lure in customers. It will update the market again after the critical Christmas trading period.

Smartpay is up 0.01 cent at 3 cents after confirming on Monday it will list on the Australian Stock Exchange.

Pumpkin Patch was up 2 cents to $1.67.

In currency markets, the NZ dollar was 76.2 US, 76.95 Australian, 48.42 pence, 62.85 yen and 0.5711 euro. The TWI stood at 68.5.