NZ stocks: String of good corporate news fails to fire NZSX-50

The sharemarket's index of top 50 stocks defied a string of good news to lose ground through today's session.

At 5pm, the NZSX-50 was down 6.86 points at 3157.15. The NZSX-All capital index was down 2.62 points at 1034.04.

Total turnover was $78.0 million, including $26.4m worth of Telcom, whose shares were down 7c at 626.

Hamilton Hindin Greene broker Grant Williamson said it was Telecom that weighed on the market, the firms shares dipping on profit taking after their recent run up.

Medical supplies firm Ebos turned in a December half profit of $4.14m, 15 percent up on the previous same period. It also declared a fully imputed interim dividend of 9cps.

"The result itself was maybe below expectations... but still a good result," Mr Williamson said, referring to Ebos' shares shedding 6c to 464.

Northland Port lifted its December half profit to $7.06m, from $2.73m a year earlier, thanks to a gain on the sale of land. It will pay a fully imputed interim dividend of 3.5cps.

Northland Port shares were up 5c at 335.

Shares in children's clothing retailer Pumpkin Patch closed up 21c at 343.

It yesterday reported a half-year profit of $12.5 million, which was 129 percent up on the previous same period.

"That's following on nicely from yesterday's profit announcement... it's a real success story," Mr Williamson said.

"I think the market believes there is still growth in that company and is re-rating them accordingly."

CDL Hotels said its December year profit rose 36.1 percent to $23.184m. It confirmed a fully imputed total dividend of 2.1cps.

"The result was missing some large gains they would have made on the sale of Australian assets, which were obviously not settled by balance day."

CDL Investments, which is linked to CDL Hotels, today reported a 28.5 percent rise in its December year profit to $8.5m.

CDL Hotels shares were down 1c at 65, while those in CDL Investments were up 1c at 43.

Calan Healthcare closed unchanged at 98c having reported a 30 percent fall in December half net profit to $3.2m.

Turners Auctions shares tumbled 20c to 435 despite the firm reporting a record net profit of $7m for the December year.

Contact Energy closed up 7c at 700 after losing ground earlier this week on news it would not return capital to shareholders.

Fletcher Building was up 4c at 708, and Carter Holt Harvey was up 1c at 216.

Nuplex shares hit a fresh closing high, up 5c at 615. Tenon's newly consolidated shares were up 5c at 445.

Among the 162 stocks traded today were 45 rises and 61 falls.

Overseas, the Dow Jones was down 80.62 points at 10,754.26, the Standard & Poor's 500 was down 9.59 points at 1200.75, and the Nasdaq Composite was down 26.09 points at 2061.34.

- NZPA