KEY POINTS:
The sharemarket retreated from another record high to close just inside negative territory, despite a positive nudge from overseas markets and good news for some stocks.
The NZX-50 index closed down 0.1 point at 4289.59 after touching 4319.54.
Top stock Telecom remained range-bound, falling 3c to $4.79, while profit-takers pushed Fletcher Building down 20c to $12.65.
SkyCity closed up 16c at $5.08, earlier hitting a three-month high of $5.20 after announcing cost-cutting plans and possible asset sales, and saying it was comfortable with analysts' forecast profit range.
"The market's been looking for an update on operations from them for a while now," said Grant Williamson of Hamilton Hindin Greene. "The market has been very active in that stock today."
SkyCity turnover totalled $27 million.
Contact Energy shares continued to gain from Monday's announcement it had won a six-year battle for resource consent to continue running its geothermal power stations near Taupo. The shares closed up 8c at $8.96, having peaked at $9.20.
Star performer was Ryman Healthcare, which hit a record high of $2.75 after reporting annual net profit rose 18 per cent to $41.6 million, increasing its final dividend, and forecasting earnings growth of 20 per cent in the current year.
Ryman closed up 5c at $2.58. "I think that stock may just have peaked in the short to medium term after a very good run in recent times," Williamson said.
NZOG rose 6c to $1.02 after announcing the initial public offering of its 61 per cent-held coal mine, Pike River. The IPO would reduce NZOG's stake to 34.6 per cent.
Rakon was up 18c at $5.49, having earlier hit a record high of $5.55.
The Warehouse, due to get news on Friday on whether Foodstuffs and Woolworths will get regulatory approval to launch bids, was up 2c at $6.65.
- NZPA
