1 Feb 2012

Market falls 11 points on Tuesday

5:32 am on 1 February 2012

The New Zealand sharemarket ended Tuesday down, with the NZX50 falling 11 points to 3296. Turnover for the day was $65 million.

Among the major share movements, Fletcher Building was down 11 cents at $6.52, Telecom was down 2 cents at $2.095, Chorus lost 4 cents to close at $3.26, and Contact Energy was down 4 cents to $4.78.

Sky City Entertainment was down 3 cents to $3.53 and Air New Zealand was unchanged at 91 cents after chief executive Rob Fyfe said he would step down at the end of the year.

Fisher & Paykel Healthcare shed 5 cents to close at $2.13, Vector was up 1 cent to $2.69, Auckland Airport was down 0.5 cents at $2.455, and The Warehouse was unchanged at $3.04.

NZX shares also finished unchanged at $2.63 after naming a new chief executive, Tim Bennett, to replace Mark Weldon. He will start in May.

Mainfreight was down 5 cents to $9.75 and Pyne Gould Corporation gained 1 cent to close the day's trading at 36 cents.

In currency markets, at 5.20pm the NZ dollar was buying 82.29 US, 77.37 Australian, 52.33 pence, 62.78 yen, and 0.6243 euro. The Trade Weighted Index was at 72.27.