NZ stocks: Sharemarket falls in mixed trading

The benchmark sharemarket index fell today amid mixed trading, despite consolidation by top stock Telecom.

The benchmark NZSX-50 gross index fell 1.80 points, or 0.07 per cent, to 2508.50. The NZSX-40 capital index rose 0.24 points, or 0.01 per cent, to 2287.01.

Telecom rose 2c to 583, regaining some of the 6 cents it has lost over the previous two days.

The company is now offering a 25 per cent discount on toll calls for six months to all retail customers who ask for it, after initially advertising the deal solely to new customers.

Turnover was $90.5 million, which First NZ Capital broker James Snell said was helped by high pre-market turnover.

Mr Snell said there was a "mixed bag" of stock movements today, with almost as many ups as downs. Of the 146 stocks traded there were 51 falls and 45 rises.

Infratil rose 6c to 260 on news that it has negotiated a lower price to buy the 23 per cent of Glasgow airport that it does not already own.

Earlier in the week, Infratil fell 16c after announcing results below expectation for Glasgow Prestwick Holdings Ltd for the March year.

Westpac was one of the few stocks to move more than a few cents today, falling 30c to 1920. Mr Snell said the stock was pushed down on the back of profit taking in the banking sector in Australia.

Oceana Gold made its debut on the NZX at 108 today. The company comprises the assets of the existing GRD Macraes mining business in Otago as well as the company's interests in the Reefton goldfields.

DB Group was up 5c to 810 and ANZ Bank was down 6c to 2165.

Metlifecare fell 5c to 195.

Williams & Kettle was up 10c at 285 reporting a 4 per cent rise in half year net profit and a higher dividend payout.

Among other movers, Fisher & Paykel Healthcare continued to yo-yo, falling 3c to 1160, after rising 12c yesterday and falling 11c the day before.

Fisher & Paykel Appliances lost 2c to 448.

Other movers included: Waste Management up 8c at 428, Taylors Group up 15c at 275, Briscoes up 5c at 156, Independent Newspapers, up 5c to 475, The Warehouse, down 4c to 44, Steel & Tube, up 2c at 382, Contact Energy, down 8c to 510, Sky TV up 5c to 515 and Sky City down 1c at 436.

- NZPA