KEY POINTS:
The sharemarket followed overseas markets and took a breather yesterday from Thursday's record high.
The NZX-50 index closed down 0.6 per cent, or 28 points, at 4305.25. Total turnover was a high $182 million.
"When a day of profit-taking happens, the momentum takes just about everything down. The whole of Asia's down, Aussie's down ... [and] a lot of stocks like your Fletcher Buildings have had a good run," ASB Securities head of advisory Stephen Wright said.
Falls included market darling Rakon, which eased 7c to $5.60 yesterday.
Another star performer, Fletcher Building, retreated 17c to $13.10 after being pushed up 62c on Thursday in the wake of its buyout of Formica.
Telecom was up a cent to $4.91 ahead of Monday's 7c ex-dividend.
Tower rose 6c to $2.40, and NZX rose 25c to a record high of $10.45.
Tower was riding high on Thursday's result. "They're involved in the sexy sector, financial services, they're a default provider for KiwiSaver ... "
The resilient dollar still appeared to be blighting currency sensitive stocks like Sanford down 16c to $4.37, and Fisher & Paykel Healthcare down 11c to $3.55.
Freightways was down 13c to $4.25.
The Warehouse lost 9c to $6.46 after another postponement of the Commerce Commission's decision on allowing Woolworths and/or Foodstuffs to make a takeover offer.
Eftpos company Provenco recovered 5c to 77c after shedding 18c on Thursday following a profit warning.
The day's best performer apart from AX-listed Holly Springs was Pod, up 10c to 48c after it said on Thursday it had received two unsolicited offers, one a full takeover.
Shell company Holly Springs is up 1450 per cent at 31c since Wednesday's 2c close on admittedly minuscule turnover.
- NZPA
