KEY POINTS:
The share market had a down day today in keeping with the trend in the US market and the Australian market during the New Zealand day.
The benchmark NZSX-50, which yesterday was 20 points from its all-time high, closed down 22.60 points at 4300.57. Falls outnumbered rises by 68 to 40 among the 150 traded and turnover was worth $143.9 million.
Turnover was boosted by the sale of 21 million Macquarie Goodman shares worth $32m at 148 and brokers said there was also reasonable trading in Auckland Airport shares. Macquarie Goodman closed unchanged at 152.
Overall, leaders were mixed with profit takers dominating in stocks that had run higher and the high New Zealand dollar not helping exporters.
Those bucking the trend included electricity stocks and Port of Tauranga.
ABN Amro Craigs retail equities adviser Nigel Scott said Port of Tauranga's price often bounced in trading of thin volumes. It closed up 14c at 699 today.
While energy stocks got a lift from a research report.
Contact Energy was up 3c at 910 and TrustPower was up 15c 845.
Guinness Peat Group was another company to defy the market trend, rising 4c at 208.
Among the leaders Telecom was down 7c at 463 and Fletcher Building was down 19c at 1278.
Auckland Airport was unchanged at 325 and Air New Zealand was down 10c at 295.
Lion Nathan declined 5c to 1020.
Brokers said a rise in the New Zealand dollar to record levels again was not helping exporters.
The Fisher and Paykel stocks were both down with the appliances stock down 4c at 376 and healthcare stock down 2c at 347.
Mainfreight was up 2c at 755 and Freightways was down 7c at 407.
Tourism Holdings was down 1c at 272 after the bidder MFS said it wasn't increasing its price.
SkyCity was down 8c at 505 and SkyTV was down 4c at 570.
The Warehouse was down 2c at 603, well below the prices speculated on before the Commerce Commission gave the thumbs down to two potential bidders.
The Australian market was down while the New Zealand market was open, with the future of retailer Coles Group a feature in that market.
Australia's Wesfarmers Ltd's A$17 ($19) billion bid for Coles looked set for success after a source said a rival group led by private equity firm Texas Pacific Group was likely to pull out, Reuters reported.
- NZPA