KEY POINTS:
The sharemarket fell heavily again today after another rough session on Wall St overnight.
The NZSX-50 benchmark index, which fell 1.14 per cent yesterday, dropped another 31.1 points, or 0.8 per cent, to 3931.5. It is now only around 36 points off a two-year low.
Turnover was slim at $18m and there was only stock up against 34 down among the 65 traded.
The Warehouse was dumped 50c, 8 per cent, to 570 after the Commerce Commssion said it was seeking leave to appeal a court ruling overturning its ban on Foodstuffs or Woolworths launching takeovers.
Analysts said it would extend an already long period of uncertainty about the company's ownership.
Investors were underwhelmed by the appointment of experienced casino executive Nigel Morrison as chief executive of Sky City. Although they said it would end a long period of being leaderless, given takeover bidders were circling, the decision may end up costing the company money.
Among the leaders, Telecom fell 5c to 426, Fletcher Building fell 6c to 1120 and Contact Energy fell 3c to 825.
Auckland Airport, whose board yesterday urged investors to reject the Canadian Pension Plan's partial bid, even though it was assessed above valuations, fell 2c to 272. Brokers believe the Canadians will struggle with their bid.
Fishing company Sanford was down 8c to 385.
- NZPA