The New Zealand sharemarket opened flat after euro zone turbulence kept investors in the United States wary of taking on risk.Around 10.20am the benchmark NZX-50 index was down 2.39 points to 3058.84, after yesterday closing up 11.1 points.Shares falling
The New Zealand sharemarket opened flat after euro zone turbulence kept investors in the United States wary of taking on risk.
Around 10.20am the benchmark NZX-50 index was down 2.39 points to 3058.84, after yesterday closing up 11.1 points.
Shares falling early today included Ebos Group down 5c to 620, Cavalier Corp down 4c to 234, and Fletcher Building down 2c to 780.
Telecom was down 1c early to 195, having fallen to a record low of 192 during trading yesterday after the company said it was fully investigating structural separation in order to take part in the Government's ultrafast broadband initiative.
Rises included Trustpower up 5c to 725, NZX up 4c to 159, and Fisher&Paykel Healthcare up 2c to 342.
In the US, stocks slid as fresh signs of Europe's banking problems emerged.
The move by the Bank of Spain to take over a small savings bank, CajaSur, over the weekend, increased anxiety among investors worried about debt problems spreading throughout financial markets.
The Dow Jones industrial average dropped 1.2 percent to 10,066.57, the Standard&Poor's 500 Index slipped 1.3 percent to 1073.65, and the Nasdaq Composite Index fell 0.7 percent to 2213.55.
