KEY POINTS:
The sharemarket languished today, ignoring a rebound on global markets as concerns eased about the US economy.
The NZSX-50 index closed down 0.34 percent or 14.3 points to 4121.9 on a "very quiet" turnover worth $130 million.
Rises narrowly edged falls 50 to 47 on 149 stocks traded.
A session "lowlight" was Fletcher Building which, despite reporting a record result, fell 42c to 1218.
"(Net earnings) were up 5 percent on the year, there's been difficult trading conditions, and I think any anticipated profit increase for the next year's coming from their ability to put through price increases," Paul Nicholson, institutional director with UBS, said.
But while investors appeared "underwhelmed" by the result, the stock had had had a good run-up to the result, which was in line with expectations.
Meanwhile, a 1.5 percent rise on the Australian sharemarket saw dual-based stocks benefit . In the banking sector, Westpac rose 30c to 2922, AMP jumped 48c to 1150 and ANZ rose 75c to 3225.
Locally Nuplex rose 10c to 700 as did Telstra to 530, and there was strong buying in Telecom, although it ended down 4c to 434.
Other blue-chips had a mixed day. Auckland Airport fell 9c to 310, Contact was up 7c to 940, Fisher & Paykel Appliances dropped 9c to 348, and F&P Healthcare fell 11c to 339, possibly affected by a downbeat result out of Australian competitor Resmed.
"With the currency pulling back, it's (F&P Healthcare) gone from 320 to 350 over the past few days, so that's a bit of profit-taking, I think," Mr Nicholson noted.
In an apparent relief rally, Hallenstein Glasson gained 16c to 461 after putting out an annual profit forecast, which was close to last year's despite a difficult summer season.
Elsewhere, NZOG regained 3c to 108 after a negative report on its Hector-1 oil project, Rakon lost 10c to 478, Ryman added 8c to 215, GPG rose 6c to 193, Freightways rose 7c to 400 and Hellaby lost 11c to 319, on thin trading.
Sky TV rose 18c to 546 after a positive re-rating by a brokerage.
NZX continued its decline, down another 10c at 1010 today.
Tourism Holdings was flat at 240 after announcing it was selling two-thirds of its interest in Johnston's Coachlines to a joint venture, freeing up $11 million of capital.
- NZPA