NZX snaps strong streak

Last updated 17:45 19/10/2012

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The New Zealand share market snapped its positive streak today, easing back below the 4000 mark that it hit yesterday.

The NZX50 index was down 0.3 per cent or 13.78 points to 3988.16. Within the index, 20 stocks fell, 18 rose and 12 were unchanged.

Craigs Investment partners head dealer Bryon Burke said that after being up for five days in a row, the market finally had a breather.

"Fletcher Building was leading the market lower, down 2.9 per cent to $7.37. Trading was mixed across the rest of the stocks. Although we finished lower, positive sentiment remained," Burke said.

"Certainly there is evidence of a good pool of cash looking for equities."

After Chinese whiteware manufacturer Haier's raised $1.28c a share takeover bid was approved yesterday, Fisher & Paykel Appliances was unchanged today at $1.27.

Westpac Banking Corp slipped 2.3 per cent to $32.25 and ANZ Banking Group was down 1.8 per cent to $32.55. Mainfreight, the international trucking and logistics firm, was down 1.9 per cent to $10.53. Freightways fell 1.6 per cent to $4.34.

Diligent Board Member Services was down 1.6 per cent to $3.77. Xero fell 1.3 per cent to $5.33. Retailer The Warehouse Group was down 1.3 per cent to $3.12. Investment holdings company Guinness Peat Group fell 0.9 per cent to 57c. Chorus fell 0.9 per cent to $3.42.

Rural services company PGG Wrightson led the gainers with a 2.9 per cent rise to 36c. Fisher & Paykel Healthcare, the maker of breathing masks and respirators, was up 2.2 per cent to $2.37. OceanaGold rose 1.8 per cent to $4.48.

Rubber goods and milking equipment manufacturer Skellerup rose 1.8 per cent to $1.72. Childrens clothing chain Pumpkin Patch rose 1.6 per cent to $1.24. Restaurant Brands, the company behind fast food chains KFC and Pizza Hut, was up 1.6 per cent to $2.53.

Carpet maker Cavalier rose 1.55 per cent to $1.97. Australian food ingredient maker Goodman Fielder rose 1.5 per cent to 68c. Trade Me Group was up 1.2 per cent to $4.24.

TrustPower rose 1.1 per cent to $8.51. Casino and hotels operator SkyCity Entertainment was up 1 per cent to $3.99. Industrial chemicals and resins maker Nuplex Industries rose 1 per cent to $3.17.

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