KEY POINTS:
SkyCity shares lost 2.3 per cent when the New Zealand sharemarket opened today following a media report that one of two potential buyers had pulled out.
Yesterday was the deadline for takeover bids and SkyCity was saying any proposals would be considered at a board meeting next week.
When the market opened SkyCity shares were down 12c to 508.
The New Zealand market was down in early trading despite a turnaround on Wall Street after yesterday's news of Abu Dhabi's US$7.5 ($10.02) billion investment in Citigroup Inc spurred a rebound in the battered US financial sector stocks.
US stock prices also benefited from a drop in oil prices which boosted shares of big manufacturers. Oil tumbled US$2.56 to US$95.14.
At 10.20am the benchmark NZSX-50 index was down 12.5 points to 4091.57.
Of 81 stocks traded there were 22 rises and 18 falls. The total value of stocks traded was $26.3 million.
Also down early today was top-stock Telecom at 4.27 down 3c. Fletcher Building was down 10c to 1215 after rising 40c yesterday. Auckland Airport was down 2c to 293 after news yesterday that chairman John Maasland resigned.
Other stocks to decline early included Fisher & Paykel Appliances down 3c to 341 and Sanford down 5c to 425.
Stocks to rise early included Air New Zealand up 2c to 194, Cavalier Corporation 3c to 320, Kiwi Income Property Trust 1c to 136, Pumpkin Patch 2c to 267 and Tower 6c to 206.
- NZPA