KEY POINTS:
The New Zealand sharemarket began the week very quietly, shrugging off firmer offshore markets on Friday.
The benchmark NZSX-50 index was down 0.07 per cent or 3.3 points to 4240.35.
Japan was on holiday, and an earthquake there today might have contributed to a drop in New Zealand and Australian markets near the close, Grant Williamson, a partner with Hamilton, Hindin, Greene said.
"I think we are lacking any solid news and investors are just sitting on the sidelines waiting for the financial results to start to come through next month."
He also thought investors were concerned about another interest rate rise, after stronger than expected inflation figures out today.
Market leaders added little traction, with Telecom up 1c at 467 and Fletcher Building down 7c to 1237.
But power companies bucked the trend, with Contact Energy up 8c to 909, and Trustpower up 10c to 839, as winter temperatures increased power usage.
Among the better performers was Fisher & Paykel Appliances, up 5c to 355, despite the high exchange rate.
Mr Williamson said there were always takeover rumours surrounding the Appliances stock, and the company had new product developments not far away.
The star stock today was Vending Technologies (VTL) which rose 21 per cent or 18c to 101, albeit on light volume.
VTL Group said on Friday it had received an offer for its US franchise assets from Bacon Whitney Corporation.
Other moves included Auckland Airport, down a cent to 329, Pumpkin Patch up 5c to 347, Methven up 4c to 269, Hellaby up 10c to 350, NZ Refining up 8c to 789, SouthPort down 10c to 280 after a strong run, Sky City down 11c to 478, Mediaworks down 3c to 242, and MetLifeCare down 10c to 800.
Vector was flat at 262 despite news that Standards & Poor's viewed the resignation of key staff there with concern.
Rises narrowly outnumbered falls 54 to 51 on 152 stocks traded.
- NZPA