NZ stocks: Subdued end to quiet week on market

Trading on the sharemarket continued to be subdued today at the tail end of what has been a relatively quiet week.

The benchmark NZSX-50 gross index was fractionally up by 2.46 points or 0.12 per cent to 2131.67, while the NZSX-40 capital index was up 2.58 points or 0.125 per cent 2074.13 .

Turnover was $72.78 million on 22.66 million shares traded.

There was not very much happening today said Colin Beckermann, a broker with ASB Securities Ltd.

Mr Beckermann said there had been some interest shown from Australian institutional investors in market bellwether Telecom.

Despite this, Telecom remained unchanged today on 505 on volume of 8.7 million shares traded.

Mr Beckermann said there had also been some volumes through on Carter Holt Harvey which was down 4c to 168 on 2.8 million shares traded.

Overall Mr Beckermann said the market had seen a quiet week. "I think it has got something to do with the time of the year, a number of people seem to have taken a week's leave," he said.

Also a factor in today's slow local trading was overseas markets "being off a wee bit" Mr Beckermann said.

Among the 37 stocks to rise today were: Air NZ up a cent to 52, Auckland Airport up 9c to 585, Contact Energy up 6c to 471, Fisher & Paykel Healthcare up 10c to 1150, Guinness Peat Group up a cent to 155, Hellaby Holdings up 6c to 436, NZX up 2c to 456, Sky City up 13c to 890, and the Warehouse up 9c to 492.

Among the 49 stocks to fall were: Baycorp Advantage down 3c to 155, Cavalier down 4c to 460, Fisher & Paykel Appliances down 4c to 1296, Owens Group down 3c to 95, Ports of Auckland down 5c to 755, Port of Tauranga down 5c to 426, Promina down a cent to 264, Sanford down 5c to 490, Sky TV down 2c to 453, Software of Excellence down 4c to 150, Waste Management down 2c to 358.

There were 126 stocks traded.

- NZPA