The New Zealand sharemarket's new year rally took another knock today following on from a weak US market performance on Friday and ahead of some key local economic data this week.
The benchmark NZSX-50 index closed down 10.848 points, or 0.3%, at 3247.104, having opened down 9.11 points.
Turnover was worth $51.94 million. There were 36 rises and 39 falls among the 120 stocks traded.
Stocks slid in the US on Friday (local time) following a report from JPMorgan Chase of deep fourth-quarter loan losses. (US markets are closed on Monday for the Martin Luther King holiday.)
The focus locally is shifting to the profit reporting season in February as well as consumer price index data on Wednesday and retail sales data on Thursday.
Profit-taking on a new year rally helped push Fletcher Building down 20c to $8.11 and Contact Energy down 8c to $6.10.
Australia's Spotless Group was untraded on its first day on the local market as a dual listed stock. The listing reflects the company's commitment to this country but brokers said investors were more attracted to the liquidity in the stock in the Australian listing.
Pyne Gould Corporation fell a cent to 48c as its entry into the NZSX-50 index became effective today. NZ Farming Systems Uruguay rose 1c to 47c on light volume.
NZ Refining rose 16c to $3.92, again on light volume, and Pike River Coal was unchanged at $1.02.
OceanaGold rose 4c to $2.39 after increasing its reserve estimate at the Macraes mine in central Otago.
GPG rose 2c to 90c and Cavalier Carpets rose 5c to $2.75.
Financial stocks were firm with AMP up 8c to $8.18, Westpac up 64c to $32.10 and ANZ up 88c to $28.60.
Sanford rose 5c to $4.85 on light volume and Rakon rose 1c to $1.14.
TrustPower was unchanged at $7.26 as was SkyCity at $3.32.
Telecom rose 1c to $2.52 and Freightways rose 1c to $3.41.
SkyTV eased 2c to $5.15. Auckland Airport eased 1c to $1.91 and Air NZ eased 2c to $1.16. Tower eased 9c to $2.07 and The Warehouse eased 4c to $3.98.