NZX follows offshore markets down

JAZIAL CROSSLEY
Last updated 18:18 05/09/2012

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The New Zealand sharemarket fell today, as equities markets sank elsewhere in the Asia Pacific region.

In Australia, the ASX200 index was down 0.7 per cent, Hong Kong's Hang Seng index fell 1.4 per cent and Japan's Nikkei 225 Index was down 1 per cent.

The NZX50 index was down 0.2 per cent or 6.37 points to 3669.64. Within the index, 30 stocks fell, 11 rose and nine were unchanged.

Craigs Investment Partners head dealer Bryon Burke said the New Zealand market had a slight pull back today as a result of overseas bourses being a bit weaker

"Leading the fall is Fletcher Building (down 0.6 per cent to $6.48) and Auckland Airport (down 1 per cent to $2.57). Even some of the midcap stocks had given back some of their recent gains such as Freightways (down 1.2 per cent to $4.01) and Infratil (down 0.95 per cent to $2.09)," Burke said.

"There is still a relatively positive tone to the market but some investors are taking some profit off the table."

Australian wealth manager AMP led the declining stocks with a 3.65 per cent fall to $5.55 as it went ex-dividend today.

Property for Industry was down 1.7 per cent to $1.16. Auckland International Airport fell 1 per cent to $2.57. Insurer Tower was down 1.1 per cent at $1.76.

Sky Network Television, the pay TV operator, was down 1.2 per cent to $4.99. Industrial chemicals and resins maker Nuplex fell 1.3 per cent to $2.95.

Australian food ingredient maker Goodman Fielder led the gainers with a 4.7 per cent rise to 67c. Carpet-maker Cavalier was up 2.25 per cent to $1.82.

Telecom rose 1.2 per cent to $2.46. OceanaGold was up 1.2 per cent to $3.36. New Zealand Oil and Gas was up 1.2 per cent to 87c. Retirement villages operator and developer Ryman Healthcare rose 0.5 per cent to $3.85.

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- BusinessDay.co.nz

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