NZ shares fall early

The New Zealand sharemarket fell in early trading, with markets in the United States closed for a national holiday and despite advances by European shares.

Bucking the trend, shares in software company Diligent Board Member Services lifted 5c, or 17 per cent, to 35c early, after reporting growth of 78 per cent in fourth quarter net sales revenue.

Around 10.15am the benchmark NZX-50 index was down 8.28 points to 3238.82, having fallen on five of the last six days including a 10.8-point fall yesterday.

Among leading shares Fletcher Building was down 2c to $8.09, after a 20c fall yesterday, Telecom was down 2c to $2.50, and Contact Energy was flat on $6.10, having declined 8c yesterday.

Horizon Energy fell 9c to $3.75, Hellaby Holdings fell 4c to $1.66, NZ Refining Co was down 3c to $3.89, Hallenstein Glasson slipped 2c to $3.23, Infratil was down 2c to $1.65, while Property for Industry gained 2c to $1.20.

Shares in Wellington retailer Kirkcaldie & Stains rose 13c to a 20-month high $2.85 on modest turnover.

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Overnight, European shares advanced, with the pan-European FTSEurofirst 300 rising 0.7 per cent, as firmer commodity prices lifted mining and oil shares. Earlier, Japan's Nikkei average fell 1.2 per cent, tracking a weaker Wall Street on Friday.

- NZPA