NZ sharemarket slips early
The New Zealand sharemarket slipped in early trading, with key stocks Contact Energy and Telecom both lower.
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The New Zealand sharemarket slipped in early trading, with key stocks Contact Energy and Telecom both lower.
Around 10.15am the benchmark NZX-50 index was down 4.26 points to 3477.35, after dropping 24.8 points yesterday.
Contact Energy was down 4c early to 575, and Telecom slipped 1c to 239. SkyCity dropped 2c to 360, with The Warehouse down 2c also to 360.
Another leading stock, Fletcher Building, lifted 3c early to 860, while OceanaGold gained 10c to 320, Freightways added 2c to 343 and Nuplex gained 2c to 310.
In the United States, stocks rose in volatile trading thanks only to technical factors and options expirations. Raging uncertainty about Greece prevented investors from committing money to the market.
The impending expiration of stock-index futures, single-stock futures, equity options and stock-index options for June -- known as quadruple witching -- created exceptional volatility.
The Dow Jones industrial average gained 0.5 percent to 11,961.52, the Standard & Poor's 500 Index added 0.2 percent to 1267.64, while the Nasdaq Composite Index dropped 0.3 percent to 2623.70.
NZPA
Fri, 17 Jun 2011
Fri, 17 Jun 2011
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NZ sharemarket slips early
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