NZX50 drops back in flat start after Easter
The New Zealand sharemarket returned from the Easter long weekend to reach 3496.228 points just before lunch -- the highest level in nearly three years -- but then came off the boil.
Despite having closed up 19.6 points last Thursday, ending the shortened week before Easter on a positive note, the NZX50 benchmark index fell sharply in a few minutes from 11.30am and dipped several more times to finish down 5.913 points on last Thursday, at 3486.483, a fall of 0.2%.
A total of 24.3 million shares, valued at $66.65 million, changed hands, with 31 rises and 36 falls among the 111 stocks traded.
In early trade today, Sky City fell 3c but at the end of the day finished down only 1c at 345, Abano Healthcare slipped 2c to 452, while Tower gained 4c to 189 and Hallenstein Glasson jumped 1.8%, or 7c, to 405.
Among leading stocks, Fletcher Building was rose 3c in early trade but finished the day down 2c at 919, while Contact Energy finished unchanged at 586.
Shares in NZ Farming Systems Uruguay (NZFSU) were untraded early after Olam International said it was seeking to buy the 22% it did not already own at 70c per share. But it finished the day up 27%, or 15c, to 70c, from last week's 55c, after a minority shareholder complained the latest offer was not high enough. There were five small trades totalling only 83,000 shares.
NZPA
Tue, 26 Apr 2011
Tue, 26 Apr 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
NZX50 drops back in flat start after Easter
14112