Confidence numbers fail to boost sharemarket

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New Zealand share prices appeared buoyed by a bounce in reported business confidence yesterday but after the benchmark NZX-50 index lifted to three points above Monday's close, prices faded through the rest of the session.

The NZX-50 ended at 3473.59, down 4.9 points (0.141 per cent), a little above the point at which it troughed shortly before trading finished.
The quarterly survey of business opinion (QSBO) showed business confidence was up, along with domestic trading activity.

But the results were mixed, with building/construction and manufacturers mostly outperforming retailing and services, and domestic trading up the most in Canterbury, as were readings for employment.

A total of 44.9 million shares were traded, at a value of $146.9 million. Among the 108 stocks traded, there were 64 rises and 50 falls. About 39.6 million of the shares which changed hands were for stocks in the NZX-50 shares.

Cornerstone stock Telecom fell 3c (1.19 per cent) to $2.50, Infratil dipped 1c to $1.81, and Steel & Tube dropped 2c to $2.65 and SkyCity eased 1c to $3.64.

Goodman Fielder was down again, by 2c (1.48 per cent), to $1.33.
Ryman Healthcare lifted 1c to $2.79, and Auckland Airport lifted 1.5c to $2.26. Improving stocks were NZ Oil & Gas, up 1c to 85c, Kiwi Income Property Trust gained 0.5c to $1.04.5, Pumpkin Patch, up 3c to $1.16, and Mainfreight rose 1c to $10.30.

Australian shares closed in negative territory on comparatively low volumes because of little local and international news, and a public holiday overnight in the United States.

The benchmark ASX 200 index was down 12.6 points, or 0.27 per cent, at 4598.1.

The broader All Ordinaries index was 13.5 points, or 0.29 per cent, weaker at 4656.9.

On the ASX 24, the September share price index futures contract was down 15 points at 4582, with 22,024 contracts traded.
United States markets were closed for the July 4 Independence Day holiday.

- NZPA