NZ sharemarket rally fizzles as trading dries up
The benchmark NZX-50 index was virtually unchanged at the close of the session.
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A rally on the sharemarket today fizzled out, leaving the benchmark NZX-50 index virtually unchanged at the close of the session.
The index closed up 3.278 points, or 0.01%, at 3322.378.
Contact Energy (NZX: CEN ) fell 7c to $6.17, while TrustPower (NZX: TPW ) rose 5c to $7.35.
James Lee, head of institutional equities at First NZ Capital, said the Contact share price has been volatile and the movement was not out of the ordinary. He said trading was getting thin ahead of the holiday break.
Fletcher Building (NZX: FBU ) released the documentation for its bid for Crane Group but the company had already spelt out the reasons for the bid. Fletcher Building closed up 2c at $7.79.
NZOG (NZX: NZO ) was unchanged at 83 on reasonable volume for the time of the year. NZ Refining (NZX: NZO ) rose 10c to $4.35.
Telecom (NZX: TEL ) fell 1c to $2.22 on a day it spelled out its vision for the next three years in its magazine.
Infratil (NZX: IFT ) was unchanged at $1.92 after closing its infrastructure bond issue early, citing stronger than expected demand.
SkyTV (NZX: SKT ) rose 1c to $5.28, Sky City (NZX: SKC ) rose 2c to $3.35 and Air NZ (NZX: AIR ) rose 1c to $1.50.
Healthcare companies continued to be in favour with Ebos (NZX: EBO ) up 6c to $7.38 and Ryman Healthcare (NZX: RYM ) up 2c to $2.32.
Xero (NZX: XRO ) rose 13c to $2.60 and NZX (NZX: NZX ) rose 6c to $1.55. OceanaGold (NZX: OGC ) fell 20c to $5.00 and Ecoya (NZX: ECO ) fell 8c to 65.
Charlie's (NZX: CHA ) rose to 19.2c after disclosing a trial of its products in stores in Hong Kong.
NZPA
Wed, 22 Dec 2010
Wed, 22 Dec 2010
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NZ sharemarket rally fizzles as trading dries up
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