NZ sharemarket down early
The New Zealand sharemarket fell in early trading as miner OceanaGold gave up some of the gain of almost 10 percent it made yesterday.
The New Zealand sharemarket fell in early trading as miner OceanaGold gave up some of the gain of almost 10 percent it made yesterday.
OceanaGold shares opened down 8c to 367, having risen 33c yesterday after reporting an increase in its South Island reserves.
Sky City, which said it lifted half year normalised net profit 2.1 percent, fell 3c early to 330.
Fletcher Building fell 4c early, to 817, after reporting an 8 percent rise in half year net profit.
Around 10.15am the benchmark NZX-50 index was down 7.71 points to 3382.39, after gaining 6 points yesterday.
Restaurant Brands fell 2c to 250, Nuplex lost 3c to 365, Skellerup was down 2c to 124, and NZ Refining Co lost 2c to 516.
Kathmandu Holdings gained 2c to 215, while Telecom was unchanged on 224, and Contact Energy was unchanged on 622.
In the United States, stocks closed lower after a surprisingly weak retail sales report.
The Commerce Department said US retail sales rose just 0.3 percent in January, the smallest increase since June and half of what economists had predicted.
Energy companies led the way down. Exxon Mobil Corp lost 2.3 percent, the largest drop among the 30 large companies that make up the Dow Jones index.
According to preliminary figures, the Dow Jones industrial average fell 0.3 percent to 12,226, the Standard&Poor's 500 index was down 0.3 percent to 1328, and the Nasdaq composite index fell 0.4 percent to 2804.
NZPA
Wed, 16 Feb 2011
Wed, 16 Feb 2011
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NZ sharemarket down early
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