3 Feb 2011

New Zealand market slips two points

8:53 pm on 3 February 2011

The New Zealand sharemarket slipped on Thursday, with the NZX 50 index down two points to 3350 on turnover of $96 million.

Telecom was down 2 cents to $2.20, Fletcher Building was up 1c to $7.91, Contact Energy was up 2c to $6.22 and Tower was unchanged at $1.95 after saying on Wednesday that it would consider returning some cash to shareholders

Auckland International Airport was down 1c to $2.23, Air New Zealand was up 1c to $1.39, Fisher & Paykel Healthcare was down 4c to $3.20 and Pumpkin Patch was down 1c to $1.49.

The Warehouse was up 2c to $3.60 and Briscoes Group was unchanged at $1.36 after full-year sales for the year ending 30 January edged up slightly on last year.

NZX was up 2c to $1.77 after both the value and volume of trades fell in January.

Across the Tasman, the Australian 200 index was up 25 points to 4821.

The dollar was trading at 77.11 US cents, 76.4 Australian cents, 47.67 pence, 62.98 yen and 0.5595 euro. The Trade Weighted Index was 68.23.