The New Zealand sharemarket opened little changed after Wall Street recovered early losses and as most key markets were lower overnight.The benchmark NZX 50 index was down 1.414 points at 3263.091 in early trading.Telecom rose 1c to 217 and Mainfreight ro
The New Zealand sharemarket opened little changed after Wall Street recovered early losses and as most key markets were lower overnight.
The benchmark NZX 50 index was down 1.414 points at 3263.091 in early trading.
Telecom rose 1c to 217 and Mainfreight rose 1c to 736. Rakon rose 1c to 115 and Property for Industry rose 1c to 116.
Contact Energy was down 1c at 592, Tower was down 1c at 196 and NZX was down 1c at 149. Nuplex fell 2c to 330.
A number of companies were trading ex-dividend today, including Fisher&Paykel Healthcare, Cavalier Carpets, Ryman Healthcare and Infratil.
In the United States investors were caught in a tug of war between Europe's woes and signs of a more robust US economy.
"There is no doubt, I think, that absent the troubles in Europe ... we continue to get very supportive data in the US," said Bill Stone, chief investment strategist at PNC Wealth Management in Philadelphia.
Consumer discretionary stocks like retailers gained after US consumer confidence rose to its highest level in five months.
The improved consumer sentiment as well as a report showing US Midwest business activity grew faster than expected are the latest in a series of reports that have made investors more optimistic before Friday's November unemployment report.
The Dow Jones industrial average dropped 45.94 points, or 0.42 percent, to 11,006.55. The Standard&Poor's 500 Index fell 7.28 points, or 0.61 percent, to 1180.48. The Nasdaq Composite Index lost 26.99 points, or 1.07 percent, to 2498.23.
