NZ stocks: Sharemarket down but outperforms other markets

12.00pm

The New Zealand sharemarket was in negative territory today, but still outperformed other markets following further corporate investigations in the United States.

By mid-morning the NZSE-40 capital index was down 12.91 points, or 0.62 per cent, at 2078.99 on minimal turnover of 6.39 million stocks valued at $12.79 million.

Telecom fell 8c to 515, Baycorp Advantage was down 7c at 400, Carter Holt Harvey lost 1c to 193, Fletcher Building shed 3c to 267, The Warehouse lost 7c to 758, Fisher & Paykel Healthcare was down 8c at 800 and Restaurant Brands lost 1c to 194.

Tranz Rail, which warned that its 2002 operating profit will be up to $10 million below forecast, rose 4c to 254, Auckland Airport rose 3c to 427, Rubicon gained 1c to 74, and Sky City casino was up 1c at 623.

There were 39 falls and 12 rises on the 87 stocks traded.

- NZPA