The New Zealand sharemarket followed Wall Street's lead on Tuesday morning, with the benchmark NZX50 index down 5 points (0.1%) to 3422 on turnover of $40 million.
The New Zealand sharemarket followed Wall Street's lead on Tuesday morning, with the benchmark NZX50 index down 5 points (0.1%) to 3422 on turnover of $40 million.
At 12.21pm, Fletcher Building was up 3 cents to $8.27, Contact Energy had fallen 6 cents to $5.23 and Telecom was unchanged at $2.64 after announcing more detail about its planned demerger.
Sky City Entertainment Group was up 1 cent at $3.73, Sky Network TV was down 2 cents at $5.81 and Fisher & Paykel Healthcare was up 5 cents at $2.52.
The Warehouse was unchanged at $3.57 and Hallenstein Glasson was down 3 cents to $3.50.
NZ Oil and Gas was down 2 cents to 71 cents. Pan Pacfic Petroleum was down 0.5 cents to 16.5 cents after the Tui Oil field's reserves were cut by a fifth by the field's operator, AWE.
Methven was unchanged at $1.56 after announcing last week that its full year profit would double to $9 million, due to its British business returning to profit and lower operating costs.
In currency markets, the NZ dollar was trading at US86.24 cents, 79.7 Australian, 53.04 pence, 67.64 yen and 0.6008 euro. The TWI stood at 73.84.
