ANZ leads sharemarket lower

RICHARD MEADOWS
Last updated 10:44 12/02/2013

Relevant offers

Business

Mill closure sees loss of 79 jobs Bank swaps probe widens Reserve Bank lifts interest rate Rebuild 'hampered by government' What's your personal succession plan? Evos taken as thieves hit car yard a third time Abano shareholders call for chairman's removal The cues retailers use to open your wallet Investment guru slams Coke pay plan Farming couple to keep pushing the boundaries

New Zealand shares edged into the red this morning, with ANZ Bank leading the way down after a share issue and ratings downgrade yesterday.

The NZX 50 Index fell 3.7 points, or 0.09 per cent, to 4,216.79 in the first 30 minutes of trade. Ten stocks fell and seven rose.

The country's largest bank was downgraded from "buy" to "neutral" by Goldman Sachs yesterday, ahead of its results announcement on Friday.

The dual-listed company also announced to the stock exchange in the afternoon that it was conducting an issue of some 14,722 ordinary shares. The bank's stock fell 3 per cent to $33.31 at the open.

Pumpkin Patch, the children's clothing chain, fell 1.4 per cent to $1.37. Westpac Banking Corp, which no longer issues a quarterly results announcement, fell 1.1 per cent to $34.50.

SkyCity Entertainment fell 0.8 per cent to $3.99. The hotel and casino operator will release its half-year results tomorrow morning.

Sky Network TV fell 0.6 per cent to $5.18.

Property for Industry led gainers. The commercial and industrial real estate investor rose 0.8 per cent to $1.24.

Ryman Healthcare, the retirement village operator, rose 0.4 per cent to $4.58. Fisher & Paykel Healthcare, manufacturer of breathing mask and respirators, rose 0.4 per cent to $2.34.

Auckland International Airport, the country's busiest gateway, rose 0.4 per cent to $2.82.

Industrial chemicals and resins manufacturer Nuplex rose 0.3 per cent to $3.42.

Ad Feedback

- © Fairfax NZ News

Special offers

Featured Promotions

Sponsored Content