KEY POINTS:
The sharemarket closed little changed today despite gains for leading stocks Telecom and Fletcher Building.
The benchmark NZSX-50 index eased 1.80 points to 4236.85 on solid turnover totalling $159.5 million.
Fletcher Building rose 8c to 1218, while Telecom added 4c to 465.
"Probably the star performer of the day was NZ Oil and Gas, which is up 6 per cent," said Barry Johnson of Maquarie Equities.
NZOG's Pike River Coal share offer closed today, the company is also close to first production at the Taranaki Tui oil field in which it has a 12.5 per cent stake, and is about to start exploration at nearby Hector.
"Also, with oil prices being at record levels, everything appears to be aligning nicely for that company," Mr Johnson said.
NZOG closed up 8c at 124, its highest in more than a year.
Among blue chips, Auckland Airport lost 3c to 325 amid a fees dispute with airlines, and with uncertainty surrounding potential bidders. Manukau City Mayor Sir Barry Curtis confirmed another approach for the council's 10.5 per cent stake, reported to be Dubai International Airport.
"It's a great land bank, and it's not replaceable. We wouldn't want to see that one disappearing from the market, it's the bluest of the blue chips," Mr Johnson said.
Fisher & Paykel Healthcare was down a cent at 327, F&P Appliances was flat at 350, Vector shed 4c to 266, and Contact lost 8c to 905.
Casino company Sky City was down 5c at 495, and Sky TV lost 12c to 553.
Rakon rose 7c to 487, Mainfreight was up 3c at 742, Michael Hill jumped 40c to 1000 on light turnover, and Nuplex rose 5c to 710.
Canwest MediaWorks closed flat at 235. Bidder Ironbridge Capital said it received acceptances for 82.3 per cent of shares by yesterday's deadline, short of the 90 per cent needed for compulsory acquisition.
Air New Zealand rose 8c to 264.
Pumpkin Patch fell 10c to 348, Sanford lost 15c to 415, and The Warehouse lost 5c to 600.
Among dual-listed stocks, ANZ soared 70c to 3300, Westpac was up 39c at 2949, AMP fell 6c to 1140, and Goodman Fielder rose 5c to 278.
- NZPA