The New Zealand sharemarket fell in early trading, with major shares falling away after small gains yesterday.Around 10.15am the benchmark NZX-50 index was down 7.31 points to 3298.94, after closing up 4.6 points yesterday.Among the leading shares Telecom
The New Zealand sharemarket fell in early trading, with major shares falling away after small gains yesterday.
Around 10.15am the benchmark NZX-50 index was down 7.31 points to 3298.94, after closing up 4.6 points yesterday.
Among the leading shares Telecom fell 2c early to 218, Fletcher Building was down 4c to 841, and Contact Energy dropped 4c to 620.
The Warehouse was down 3c to 386, and Vector fell 2c to 217, while Fisher&Paykel Appliances gained 2c to 61, Dorchester Pacific lifted 2c to 18, and Ebos Group was up 5c to 650 on low volume.
NZ Windfarms shares rose 2c to 25 early after reporting third quarter statistics that showed revenue from electricity sales up 686 percent from a year earlier to $1.5 million, while the average electricity price lifted 136%.
In the US stocks edged lower as bank shares fell on fears that financial reform making its way through Congress will curb profits, while Caterpillar's strong results buoyed the Dow.
The Dow Jones industrial average edged up 0.01 percent to close at 11,205.03, the Standard&Poor's 500 Index dropped 0.4 percent to 1212.05, and the Nasdaq Composite Index lost 0.3 percent to 2522.95.
