The New Zealand sharemarket continued its losing streak in early trading today, with top stock Telecom nudging the market lower.
The benchmark NZSX-50 gross index fell 7.80 points to 3364.67 by 10.40am, while the NZSX all capital index slipped 2.14 points to 1003.07.
The falls were widespread, from Telecom to defensive plays like Goodman Fielder, to retailer Hallenstein Glasson.
Telecom was 4c lower at 567, Goodman Fielder eased 2c to 245, and Hallenstein Glasson slipped 4c to 495.
Freightways, which yesterday reported a record $13.5 million half year profit, but warned of a slowing business environment, slipped a further 2c to 323.
Takeover target Calan Healthcare was steady at 128. Its directors have appointed independent valuers Ferrier Hodgson to advise on ING Investment Trust's $1.25 per unit takeover offer.
Brewer Lion Nathan was steady at 839 following broker reports it was in the running to buy Australian and New Zealand spirits group Independent Distillers.
- NZPA
<EM>NZ stocks</EM>: Market continues losing streak
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