NZX down, US markets weak
The New Zealand sharemarket fell today as equities in the United States suffered following poor retail sales.
The NZX50 index was down 0.1 per cent or 4.05 points to 3951.50. Within the index, 25 stocks fell, 15 rose and ten were unchanged.
In the United States, the NASDAQ 100 index fell 1.2 per cent and the Dow Jones index was down 1.45 per cent after retail sales fell 0.3 per cent, the first decline in three months.
BT Funds Management portfolio manager Matthew Goodson said New Zealand stocks in the property sector fell around half a per cent.
Kiwi Income Property Trust fell 1.7 per cent to $1.14 a share after it announced its rental income had fallen 16 per cent for the first half. Property For Industry was down 0.8 per cent to $1.21. Goodman Property Trust fell 0.5 per cent to $1.03.
"There was a solid Ryman Healthcare result [profit up 15 per cent] although it was not traded on particularly heavy volumes. It rose 1.2 per cent to $4.13," Goodson said.
"OceanaGold was down 4.4 per cent to $4.11, giving back some of its strong advances of late, on no particular news or sharp commodity price movements."
Xero led declining stocks after announcing to analysts that it was looking to raise money from its investors to fund a call centre in the United States. It fell 4.65 per cent to $5.95.
Australian food ingredient maker fell 2.7 per cent to 73c. Nuplex, the industrial chemicals and resins maker, was down 2.1 per cent to $2.84. Contact Energy fell 1.5 per cent to $5.19.
Diligent Board Member Services was up 2.8 per cent to $4.07. Australian wealth manager AMP rose 2.4 per cent to $5.89. Outdoor clothing and equipment company Kathmandu was up 1.8 per cent to $1.73.
Jewellery retailer Michael Hill International rose 1.6 per cent to $1.24. Fletcher Building was up 1.2 per cent to $7.43. Carpet maker Cavalier rose 1.15 per cent to $1.76. Guinness Peat Group rose 0.85 per cent to 59c. Childrens clothing chain Pumpkin Patch was up 0.8 per cent to $1.24.