KEY POINTS:
The New Zealand sharemarket edged lower in early trade after United States stocks skidded as the unravelling of a big deal overshadowed gains in the energy sector.
In this country leading stocks led the market down early, with Telecom slipping 3c to 225 and Fletcher Building also losing 3c, to 557, on top of a 20c fall yesterday.
Around 10.15am the benchmark NZSX-50 index was down 3 points to 2674.64, following a modest 9.6-point gain yesterday
The early falls, which included a 2c decline by Infratil to 165, were partly offset by gains elsewhere, with Fisher & Paykel Healthcare lifting 5c to 325, NZ Oil & Gas up 3c to 125, and Rakon up 4c to 135.
- NZPA