KEY POINTS:
Sky City's 3 per cent rise and a firm Telecom failed to offset general weakness on the New Zealand sharemarket today, after markets elsewhere notched up gains.
The benchmark NZSX-50 index fell 6.91 points to 4268.90, on turnover totalling a hefty $212.7 million.
"Disappointing considering the US, European and Australian markets are having extremely good days today," Hamilton Hindin Greene partner Grant Williamson said.
Sky City shares jumped after the company announced it had agreed to due diligence by what it called a "credible" party interested in a potential takeover, at a significant premium to the share price at the time of the approach.
The casino, hotel and cinema company's shares hit a high of 541 before closing up 17c at 522, on turnover of 15.3 million shares.
"The market's still very, very uncertain and will be looking for more direction in the weeks ahead from the directors," Mr Williamson said.
Other blue chips were generally weaker, with Fletcher Building down 17c at 1269, Contact Energy off 15c at 919, and Auckland Airport down 3c at 313.
On the back of a stronger New Zealand dollar, Fisher & Paykel Healthcare fell 4c to 330 and F&P Appliances lost 1 cent to 356, while Sky TV - which imports most of its programming - rose 16c to 576.
Telecom was up 3c at 447, as investors digested the Government recommitment this week to split the company into three units.
Air New Zealand rose 5c to 247, following positive operating numbers for last month, and with shareholders approving its fleet purchase.
"There's certainly buying interest in Air NZ following the shock announcement of Pacific Blue moving into the domestic market," he said.
Other stocks to rise were Tourism Holdings, up 10c to 240, PGG Wrightson, up 3c at 193, Nuplex, up 8c at 734, and Sanford, 5c higher at 435.
On the decline were Infratil, down 7c at 297, Steel & Tube, down 19c at 430, Port of Tauranga, down 5c at 670, and Mainfreight, down 10c at 670.
Southport had the largest slide, down 7 per cent or 20c to 270, while Cadmus Technologies posted the biggest rise of 14 per cent, or 2c, to 16c.
Around the region, Australia's benchmark index was up 0.6 per cent at 6579, while Japan's Nikkei average was nearly flat.
Earlier on Wall Street, US stocks edged up overnight with higher oil prices lifting energy companies' shares in a noncommittal market faced with conflicting data on the US economy's health.
- NZPA