News blackout keeps stocks muted

RICHARD MEADOWS
Last updated 11:03 29/01/2013

Relevant offers

National business

Sixth consecutive drop at Fonterra's GlobalDairyTrade auction A to-do list to make your Monday mornings more successful Z Energy's takeover deal leaked in Australia Time for some sunlight over Saudi sheep deal Car buying rules to curb ownership costs Super ministry spends $43,000 on 'over the top' sign New meat company to be unveiled Craft brewery Renaissance Brewing plans second crowdfunding round Environment Canterbury's draft Lyttelton Port Recovery Plan scrutinised Wellington primed to capitalise on thriving tourism industry

New Zealand shares eased into the red in extremely quiet morning trade, with no hard data to move the market and investors cautious ahead of earnings season.

The NZX 50 Index fell 3.61 points, or 0.09 per cent to 4,200.82 in the first 30 minutes of trade, with less than 1.5 million shares changing hands at the open.

OceanaGold led decliners, and Michael Hill International rose.

The local bourse looked to continue yesterday's muted session with most companies in news blackout mode ahead of the reporting season, which begins next week.

OceanaGold, which operates the Reefton and Macraes goldfields, fell 1.2 per cent to $3.30.

Retirement village operator Ryman Healthcare fell 0.7 per cent to $4.53.

New Zealand Oil and Gas, the energy exploration and production firm, fell 0.6 per cent to 86c.

Online auctioneer Trade Me fell 0.5 per cent to $4.13.

Infratil, the infrastructure investment company, fell 0.4 per cent to $2.37.

Michael Hill International led gainers. The jeweller's stock rose 1.6 per cent to $1.26. ANZ Bank rose 0.6 per cent to $32.50.

Argosy Property, the listed real estate investment vehicle, rose 0.5 per cent to 93c.

Auckland electricity and gas supplier Vector rose 0.4 per cent to $2.80. SkyCity Entertainment, the casino and hotel operator, rose 0.3 per cent to $3.98.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content