KEY POINTS:
A surprise exit by SkyCity's managing director boosted the casino company's shares, and stopped the sharemarket from slipping too far into the red following falls overseas.
The NZX-50 ended down 14.23 points, or 0.3 per cent, at 4270.91 after closing down 15.42 points on Friday.
More than 48 million shares worth $138 million were traded. Falls outnumbered rises 63 to 40.
"A bit of weakness in the local market, and that's in reaction to a large fall in the Dow Jones on Friday night," said Grant Williamson of Hamilton Hindin Greene.
SkyCity shares closed up 18c at $5.19, a cent below the day's high, after the company said Evan Davies was standing down and director Elmar Toime would step into the role of executive director until a replacement was found.
"He's been there for a long time and the market's really been looking for more action on the SkyCity front," Williamson said.
"It appears the company's got a bit stale and I think it needs a bit more aggressive management in there."
Profit takers pushed Fletcher Building down 22c to $12.48, although third-ranked Contact Energy gained 5c to $9.10 on moderate volume.
The strong dollar weighed on the Fisher & Paykel stocks, both manufacturing exporters. F&P Appliances fell 6c to $3.72, and F&P Healthcare also lost 6c to $3.39.
Top stock Telecom lost 3c to $4.56, Auckland International Airport was down 2c at $3.19, and Sky TV rose a cent to $5.77.
NZ Oil & Gas rose 4c to a more than two-year high of $1.12.
"Investors continue to position themselves ahead of the oil flow from the Tui development, which should kick in next month," Williamson said.
Mainfreight was flat at $7.50, Freightways fell 5c to $4.02.
Port of Tauranga continued its run, gaining 6c to $7.26.
The Warehouse was flat at $6.01, as was Tourism Holdings, at $2.70. Pumpkin Patch lost 4c to $3.51 but Hallenstein Glasson gained 7c to $4.75.
Among dual-listed stocks, Westpac fell 25c to $28.40, ANZ rose 4c to $32.60, and AMP fell 8c to $11.40.
- NZPA
