NZ sharemarket remains in red

File photo / NZH

The New Zealand sharemarket remained in the red today, refusing to follow the lead of a stronger Australian market and getting no steer from the United States where markets were closed for a public holiday.

The benchmark NZX-50 index closed down 10.56 points, or 0.3 per cent, at 3343.74, following yesterday's 15-point decline.

Top stock Telecom was up a cent at 227, Contact Energy lost 2c to 634, and Fletcher Building was down 4c at 786.

Having hit its highest level yesterday since May 2008 - 227 - Auckland Airport closed down 3c at 221.

The airport company released a study today showing its role in the regional and national economy was expected to grow "substantially" in the future.

A range of businesses on or near the airport, referred to as the Airport Corridor, would generate or facilitate $5-$6 billion annually in the regional economy by 2031, up from $3 billion now.

At a national level, the largest impact was from the tourism sector, while within the Auckland economy the largest impact would shift from freight-related activity to passenger activity, the study forecast.

Among other blue chips, Sky City lost a cent to 326, Sky TV fell 2c to 526 and Infratil was up a cent at 193.

Port of Tauranga shed 7c to 743, Trustpower fell 8c to 720, Air New Zealand shed 5c to 145 and Sanford was down 5c at 455.

The Warehouse was up 3c at 362, NZ Refining gained 6c to 456, and Kathmandu Holdings rose 3c to 180.

Diligent board member services gained 13c to 79, after reporting a strong December quarter. The stock earlier hit a three-year high of 80.

Kiwi Income Property Trust was up a cent at 100 after saying a change to international accounting rules will boost unit holders' funds by about $214 million.

Dual-listed stocks were mixed, with Westpac up 24c at 2900, ANZ up 25c at 2955, but AMP down 5c at 661 and Telstra flat at 366.

Australia's S&P/ASX 200 Index was up 39 points, or 0.8 per cent, at 4802.

- NZPA