NZealand shares close lower in quiet trade |
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Published
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Fri, 26 Jan 2007 07:42
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WELLINGTON (XFN-ASIA) - Share prices closed lower in trade subdued by a lack of leads and the closure of the Australian market for a holiday, dealers said.The benchmark NZX-50 gross index fell 14.70 points or 0.36 pct to 4,120.86 on turnover of 80.9 mln nzd. Rises outnumbered falls 46 to 41 among the 154 stocks traded.Jewellery chain Michael Hill International was one of the few highlights, rising 0.37 nzd to 7.38 nzd. It said better-than-expected Christmas trading was likely to boost its first half profit by up to 36 pct.Clothing retailer Hallenstein Glasson eased another 0.02 nzd to 5.10 after saying first half profit was likely to fall 10 pct.Hallensteins' guidance was no surprise given the poor summer weather, one broker said.Forecasts of a strong dollar for much of the year hurt export-related stocks. Fisher and Paykel Appliances closed down 0.07 nzd at 3.60 and sister company Fisher and Paykel Healthcare slipped 0.01 nzd to 4.25.Market leader Telecom was down 0.01 nzd at 5.11 and Trustpower rose 0.09 nzd to 7.99 after announcing a 20 pct rise in its nine-month profit.Fletcher Building fell 0.03 nzd to 11.15, pulling back after a strong rally earlier this week.(1 usd = 1.42 nzd)afp
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NASDAQ
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IBM
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