KEY POINTS:
Our two heavyweights, Telecom and Contact Energy pulled the sharemarket down in early trading.
There was no lead from Wall Street due to a long holiday weekend in the United States.
Telecom was down 6c to 385 while Contract was off 10c to 905 after gaining 10c yesterday.
No 3 stock Fletcher Building was up 1c to 782.
The NZSX-50 was down 10 points to 3563 at 10.20am.
Ryman Healthcare, which last week reported a strong result, was up 7c to 180.
NZ Farming Systems was up 5c to 195, while Vector was up 3c to 198.
AMP was down 11c to 904.
Diligent Board Member Services, which last week said it was unlikely to meet sales targets, fell 24 per cent, or 12c, to 38c.
The stock was issued in an IPO in December at $1. The sellers of the IPO may have to surrender up to 20 per cent of their original holding as warranties they gave on sales targets now seem unlikely to be met.
Restaurant Brands was untraded after last trading on 86c. It said that same store sales in the May quarter rose 0.4 per cent across its three brands, KFC, Starbucks and Pizza Hut.
- NZPA