The New Zealand sharemarket fell today while other markets rose as investors continued to bide their time until companies report earnings this month.The benchmark NZX-50 index closed down 12.253 points, or 0.4%, at 3135.113. Turnover was worth $80.2 milli
The New Zealand sharemarket fell today while other markets rose as investors continued to bide their time until companies report earnings this month.
The benchmark NZX-50 index closed down 12.253 points, or 0.4%, at 3135.113. Turnover was worth $80.2 million. There were 36 rises and 52 falls among the 120 stocks traded.
AMP rose 15c to $7.90 after Reuters reported the company would not seek to extend its exclusive agreement with AXA for a bid for the French firm's Australian unit. Ending the agreement paves the way for rival National Australia Bank.
The big component in the New Zealand index were down with Fletcher Building shedding 8c to $7.75 and Telecom losing a cent to $2.34.
Auckland International Airport, which had its trading halt lifted yesterday after the institutional component of its capital raising, was down a cent at $1.95 after a 6c gain yesterday.
The Warehouse eased 3c to $3.82, Hallenstein Glasson eased 3c to $3.62 and Hellaby rose 3c to $1.69.
Smiths City Group rose 3c to 40c after saying it had leased space for a store in Upper Hutt.
Stocks in positive territory included Contact Energy, up 5c at $5.85, and TrustPower, up 3c to $7.33.
Infratil rose 1c to $1.63, Mainfreight rose 4c to $5.87 and Freightways rose 2c to $3.37.
NZ Refining rose 5c to $3.80, Nuplex rose 1c to $3.24 and Sanford rose 4c to $4.80.
New Image eased 6c to 48c after reporting a net profit after tax fell to $3.6 million in the six months ended December 31 from $5.6 million in the corresponding period last year.
NZ Farming Systems Uruguay eased a cent to 43c after prices in Fonterra's latest internet auction were lower.
Rakon eased 4c to $1.08.
Fisher & Paykel Appliances was unchanged at 60c on a day in which US appliance maker Whirlpool gained 8.1% after reporting a sharp increase in first-quarter earnings.
US stocks rallied for a second day on Tuesday as better-than-expected earnings and encouraging data calmed investors after the market's recent sell-off.
Rising sales of previously owned US homes and robust earnings from bellwethers representing consumer and industrial businesses.
The Dow Jones Industrial Average rose 111.32 points, or 1.1%, to end at 10,296.85.
The S&P 500 Index gained 14.13 points, or 1.3%, to 1103.32, its biggest two-day percentage jump since October 2009, after falling 6.2% in the final three weeks of January..
The Nasdaq Composite Index advanced 18.86 points, or 0.9%, to 2190.06.
