KEY POINTS:
The sharemarket ended a touch firmer today on very little corporate news, despite falls around the region and a volatile session on Wall Street.
The NZSX-50 benchmark index, which this week fell below 4000 for the first time since late August, closed up 7.3 points at 4008.7, on turnover totalling $120.7 million.
"It actually ended at probably its best point for the day. The volume was pretty poor most of the day and it is very much into Christmas trading," said David Price of Forsyth Barr.
Market leader Telecom, which fell 8c yesterday, rose 2c to 438 today.
Second-ranked Fletcher Building rose 14c to 1130, having recovered from Wednesday's eight-month low of 1097.
"I think it's probably been hit on the downside unfairly, so really it's just bargain hunters coming in because it is cheap," Mr Price said.
The building materials, retailer and construction stock hit a record high of 1342 in May.
Elsewhere on the top-10, Contact Energy was up 4c at 838 to add to yesterday's 15c gain, Fisher & Paykel Healthcare was down 2c at 328, F&P Appliances rose 4c to 338, Sky City was down 3c at 461, and Sky TV rose 4c to 574.
Auckland Airport closed flat at 280, having earlier hit a high of 295 after the Canada Pension Plan Investment Board formally lodged its partial takeover today.
Vector was down a cent at 233, Trustpower fell 5c to 830, NZ Refining lost 30c to 750, Mainfreight fell 15c to 680, and Air New Zealand was down 3c at 184.
Most stocks to rise made only small gains. Port of Tauranga was up a cent at 679, Infratil rose 2c to 290, Guocoleisure was up 2c at 104, Kiwi Income Property Trust gained 2c to 136, and Pumpkin Patch rose 2c to 248.
This week's debutant, Diligent Board Member Services, continued to track down, losing 7c to close on a low of 80c. Founder and chief executive Brian Henry resigned yesterday because of non-disclosure of his and his brother's past.
Among dual-listed stocks, ANZ was down 20c at 3130, Westpac was flat at 3340, Goodman Fielder rose 4c to 215, Lion Nathan was up 10c at 1070, and AMP shed 17c to 1130.
Australia's benchmark index was down 1.8 per cent to 6476, and Japan's Nikkei average lost 0.4 per cent.
Earlier on Wall Street, stocks rose in volatile trade as a robust retail sales report helped offset worries about the US banking and credit markets and a strong jump in a key inflation gauge.
- NZPA