The benchmark NZX50 index fell 25 points (0.7%) during Wednesday morning trading to 3371 on turnover of $39 million.
At about 12.30pm on Wednesday, Fletcher Building was down 8 cents to $7.94, Contact Energy was down 5 cents at $5.10 and Telecom was down 0.5 cents to $2.67.
Sky City Entertainment Group was down 4 cents at $3.61 after announcing board member Chris Moller will succeed Rod McGeoch as chairman when he retires at next year's annual meeting.
NZX was down 6 cents to $2.31 after Financial Markets Authority cleared it of any wrongdoing following questions about its openness about the performance of the Clear Grain Exchange and the sale of shares by chief executive Mark Weldon.
Allied Farmers was up 0.3 cents to 10 cents after selling most of its retail stores for an undisclosed amount to the Fonterra-owned RD1, to repay debt.
Sky Network TV was down 2 cents to $5.79, Fisher & Paykel Healthcare was down 3 cents at $2.52.
Kathmandu was down 4 cents at $2.30 after yesterday issuing an earnings upgrade because of better-than-expected sales.
The Warehouse was down 1 cents at $3.56.
NZ Oil and Gas was up 1 cent at 68 cents.
Pyne Gould Corporation was unchanged at 37 cents.
The New Zealand dollar was buying US86.14 cents, 80.32 Australian, 52.95 pence, 66.55 yen and 0.6075 euro. The TWI stood at 73.99.
