NZX follows Asia Pacific equities down

05:29, Jun 21 2012

The New Zealand share market was down today, following the weakness in offshore equities markets.

Across the Tasman, Australia's main bourse the S&P/ASX200 index was down 1 per cent, the Hang Seng index in Hong Kong fell 0.9 per cent while the Kospi index in South Korea pulled back 1 per cent.

The NZX50 index fell 1.0 per cent or 35.40 points to 3409.39. Within the index, 25 stocks fell, 14 rose and 11 were unchanged.

"We're down on the day and there was a bit of weakness in the leaders so Fletcher Building, Telecom and Contact were all leading the charge down," One Path New Zealand senior investment analyst Craig Brown said.

"It was tied to the weakness from offshore markets. Australia is also weaker today and prevailing our weaker tone."

Fletcher Building was down 2.9 per cent to $6.03, Telecom fell 2.2 per cent to $2.43.

"The GDP number [up 1.1 per cent in the first quarter] was stronger than expected but people are still cautious about the outlook for earnings. The currency was a bit stronger initially in reaction to the GDP but that hasn't flown through to a stronger day for equities," he said.

The leading decliner was OceanaGold, down 6.7 per cent to $2.50. Australian food ingredient maker Goodman Fielder fell 3.95 per cent to 73c.

Australian wealth manager AMP was down 2.6 per cent to $4.87. Fisher & Paykel Healthcare, the maker of breathing masks and respirators, fell 2.5 per cent to $1.92.

New Zealand Refining was down 2.3 per cent to $2.54. Outdoor clothing and equipment company Kathmandu Holdings fell 2 per cent to $1.45. Australian phone company Telstra was down 1.9 per cent to $4.59.

Contact Energy fell 1.85 per cent to $4.78. Carpet maker Cavalier fell 1.8 per cent to $1.62. Auckland electricity and gas supplier Vector fell 1.1 per cent to $2.62. Childrens clothing chain Pumpkin Patch fell 1.1 per cent to 91c.

Auckland International Airport was down 0.8 per cent to $2.41. Pay TV operator Sky Network Television was down 0.8 per cent to $4.92. Infratil fell 0.75 per cent to $1.99.

Markets operator NZX Limited led the gainers with a 2.4 per cent rise to $1.29. Hallenstein Glasson Holdings was up 2.25 per cent to $4.09. Mainfreight, the international trucking and logistics company rose 1.2 per cent to $9.51.
Whiteware manufacturer and exporter Fisher & Paykel Appliances was up 1 per cent to 53c. Freightways rose 0.8 per cent to $3.70.

Vital Healthcare Property Trust rose 0.8 per cent to $3.70 while Property for Industry rose 0.4 per cent to $1.18 and DNZ Property Fund rose 0.3 per cent to $1.47.

Casino and hotels operator SkyCity Entertainment rose 0.6 per cent to $3.47. TrustPower was up 0.5 per cent to $7.60. KFC and Pizza Hutt operator Restaurant Brands rose 0.5 per cent to $2.05.