NZ sharemarket slips early after peak
The New Zealand sharemarket slipped in early trade after rising to a 28-month high yesterday.
The New Zealand sharemarket slipped in early trade after rising to a 28-month high yesterday.
Around 10.15am the benchmark NZX-50 index was down 1.45 points to 3372.26, having yesterday ended up 39.1 points.
Investment company Hellaby Holdings edged up 1c to 221 in early trade today, having reached a three-year high of 225 during trading yesterday.
Ryman Healthcare was up 2c to a 3-1/2-year high 237, while NZ Refining Co added 2c to equal yesterday's 18-month high at 450.
Contact Energy was down 2c to 633, Telecom slipped 1c to 228 from yesterday's 11-month high, and Fletcher Building was unchanged on 796.
Nuplex dropped 2c to 350, Sky TV was down 3c to 531, Xero dropped 2c to 278, and Delegat's Group gained 7c to 217.
In the United States, stocks were hurt by a slide in drugmaker Merck and as falling commodities prices hit shares of natural resource companies.
On preliminary figures, the Dow Jones industrial average was down 0.2 percent at 11,731.90, the Standard&Poor's 500 Index was down 0.2 percent at 1283.76, and the Nasdaq Composite Index was down 0.1 percent at 2735.29.
NZPA
Fri, 14 Jan 2011
Fri, 14 Jan 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
NZ sharemarket slips early after peak
11579