NZ stocks: Share indices tip-toe through trading

Trading on the sharemarket was quiet again today with both major indices tip-toeing around their closing mark last night, a broker said.

The benchmark NZSX50 gross index finished down 3.45 points, or 0.16 per cent, at 2131.84, while the NZSX40 capital index was up 3.25 points, or 0.16 per cent, at 2072.93.

Through most of the morning both indices were marginally up on yesterday's levels.

Forsyth Barr broker David Price said the sharemarket had continued to "tread water" on light volume today.

There was $62 million of shares traded on volume of 25.9 million by market's close today. Among the 139 stocks traded were 44 rises and 50 falls.

Shares in market gorilla Telecom firmed through the day, finishing up 3c at 508. The telco traded $23.1 million worth on volume of 4.6 million.

Tranz Rail shares finished up 1c at 99, approaching the more than $1 a share price tag that several institutional shareholders believe they are worth.

Australian logistics company Toll Holdings has offered 95c a share, wanting to snap up 90 per cent of the cash-strapped rail operator as part of its deal with the Government.

"The deal as it stands at 95 cents (a share) will not happen," Mr Price told NZPA, noting Toll had a number of options to consider including sweetening its offer.

Other shares on the rise included: DB Breweries up 9c to 675, Fisher & Paykel Appliances up 17c to 1297, JPM Fleming up 20c to 1030, Ports of Auckland up 4c to 765, Telstra up 10c to 525, NZX up 11c to 485, and Westpac up 15c to 1715.

On the slide were: AMP down 4c to 580, Auckland International Airport down 9c to 575, Guinness Peat Group down 2c to 154, Lion Nathan down 5c to 605, Michael Hill International down 8c to 437 and Sky City down 10c to 900.

Overseas, the Dow Jones industrial average ended up 57.56 points at 9177.15; the broader Standard & Poor's 500 Index rose 5.72 points to 1003.86 and the Nasdaq Composite Index added 20.91 points to 1754.84.

- NZPA